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 ...
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,” that’s 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.
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