Skip to comments.Stocks on Brink Of Breakout [Gentlemen, Start Your Engines?]
Posted on 07/25/2010 9:30:06 AM PDT by Steelfish
Stocks on Brink Of Breakout By REUTERS July 25, 2010
NEW YORK (Reuters) - Wall Street enters this week on the cusp of a breakout in U.S. stocks, but it will need another spate of convincing earnings reports to feed the rally that sprouted at the end of last week.
The markets endured malaise with poor economic data and downbeat testimony from Federal Reserve Chairman Ben Bernanke on Wednesday, but turned decisively after a number of strong results pointed to better times ahead.
This week brings more results from bellwethers including Chevron, DuPont and Boeing. The trick will be turning the whipsaw action into accumulated gains -- and hoped-for improvements in volume -- that would signal an upturn in sentiment.
"There's a constant struggle between the bulls and the bears when in fact the answer is in the middle ground. This market is more like a turkey and not a bull or a bear," said Brian Jacobsen, chief portfolio strategist at Wells Fargo Fund Management in Menomonee Falls, Wisconsin.
Investors have been forced to readjust their expectations for the economy, with data showing the pace of the recovery has gone from a sprint to a crawl.
(Excerpt) Read more at nytimes.com ...
Bagdad Bob of the financial world? Sounds as if he got his fax in from the WH.
Is it too late to short alternative energy?
To the Libs at the slimes losing money is great.
It’s in the Slimes so it must be true.
CCBP did just that a couple days ago.
Consumers are preparing to pay higher taxes in hopes of paying down national debt, to bad Congress never stops spending more than they collect.
Quantitative Easing (QE) simply put is the creation of debt to pay for debt (like interest due on existing debt). This excess debt that is/has been created looks for a decent rate of return while sitting waiting to be invested or is invested via the stock market. Can cause stock prices to rises as this debt piles into stock(s) looking for a return on investment. Unfortunately, even rising stock prices at this point in time gets you no where fast as currency’s overall worth is affected by on going debt obligations.
In other words, the markets could go on to make new highs and it wouldn’t mean much in net worth.
the market, if it is getting ready to jump up, usually calls things 6 mos. early. What it MIGHT be seeing is a Republican congress which could stop Mr. Hopeychangey’s agenda...
I was working at start-up, National Semiconductor, when Applied Materials Technology started-up across the street. I eventually left National and worked at Applied for a while, I eventually retired from TI at the end of 1994.
Not as long as the Internationalist Communist Conspiracy Regime (ie Obama) keeps referencing it as a "success".
CSIQ, CPST, CLNE, ENER, ESLR, FSLR, FCEL, SOLR, HOKU, JASO, SFUN, SPWRA, SPWRB
A move up might occur as more investors see big GOP gains coming in November. I'm in the "buy on the rumor, sell on the news" camp, myself. I'm going to be adding to my positions as we get into late summer/early fall, and then take profits (if any) in October. I'm thinking that even if the GOP takes the House, and comes close to taking the Senate, the market will drop after election day, having previously discounted GOP success. And if the Election Day news is not as good as I foresee, stock indexes won't just drop, they'll tank.
It is entirely possible that stocks will trade up heading into the election, and that they will go up big-time if Republicans get back one or both houses. Investors will think it is like 1994 all over again. Then, in 2011, they will find that Obama has made structural changes to the US economy that will prevent any recovery until they are undone, and they cannot be undone until 2013 at the earliest. So, the initial exuberance will be deflated. By 2012, if it looks like we are finally going to be rid of the Obamunists, some life may come back.
Priming the pump for another profit taking session before we drop to 8000.
“When folks start talking about a breakout, thats usually when the market collapses.”
You are exactly right, however they need your money in there before the crash so they don’t lose their’s...
I never thought of it but sounds good. Short anything Obama says is great.
Markets will likely go up this week. But the drop will likely start in earnest Friday when the quarterly GDP number comes. It is expected to come in lower than last quarter.
Recall that's what happened during the 90's bull market. It really took off after the GOP got control of congress.
He is history's most perfect reverse barometer.
Just watch out for his ability to manipulate the market aka pick winners and losers via the TARP-related slush fund.
Other than that, he is Captain Wrong with no competition for 2nd Place.
Come on in the waters fine, bullsh##. Put the rest of the money you didn’t lose the first time so they can steal the rest and leave you with nothing. Sorry charlie
Still below 200 day (”still” as in multiple failed attempts)
This is the solar cell division? The tech sector is not good but compared to everything else they are doing well.
People may be taking profits by the end of the year in order to pay their capital gains taxes this year instead of next year because of the tax increases. Late November/December may be a good time to buy in.