Investment Company Institute data continues to not look positive:
https://www.ici.org/research/stats/flows/flows_12_02_15
How does the market go up if nobody wants to buy?
retail and service sectors are ok, mfgring is not, except cars which are gangbusters, and energy is bad, and financials are getting better...it's like the world economy is a V12 but only 4 cylinders are firing.
coach d wrote:
Agip,
Take a look at the chart for the last correction in 2011. It took from May to the February 2012 for the previous high to be taken out, so I'd give the stock market some time. We have positive results from Cyber Monday sales out today, so retail isn't nearly as weak as was forecast, which suggests to me that M might be a buy (this was one of the best stocks on the street until about July). And don't forget the reason why everything is down today: Things are going well HERE.
But there's a great deal of carnage around the world (Brazil just added to that list this week), and that's why I'm strongly opposed to the expected rate hiking that traders have factored in.
Could be a good party....until the contagion burns us. But I see a lot markets sold down to prior support--potentially double bottoms, but it could be lights out to the downside if the FED does what they're thinking. So-called "classical" technical analysis would predict $28 oil if the support fails, which would mean that Goldman would be right again.
It is not a day-to-day thing.
Pointing Out the Obvious wrote:
No Bulls today.
They certainly haven't been in this thread. The conversation here has been dominated by the Bears.
Pointing Out the Obvious wrote:
Why then are the Bulls so vocal on up days?
for pre's sake - the Fed has been telegraphing this for months - it's not a secret.
coach d wrote:
Agip,
Did you really think there would be NO discounting the FED policy change?
I also have cash to put to work, but I'm not placing any bets before Tuesday's announcement. Still planning to square commodity positions tomorrow through Tuesday.
You must be mistaken. The No Bulls tend not to be that vocal on up or down days.
Pointing Out the Obvious wrote:
Why then are the Bulls so vocal on up days?
So "likely potential" is already baked in? What does the magic eight ball say?
Big Dog Investments wrote:
The market looks forward. Any likely potential increases are already baked into the market.