After reading Lee's article, I asked him, "Why is it the Fed's job to be propping up the stock market? Doesn't it make the whole market a Fed-controlled game, rather than what it started as - a mechanism for companies to raise money and people to invest in public companies?" Read more about Durable Goods and The Stock Market, with The Fed In The Driver's Seat
Despite Wednesday’s stock market weakness, selling remains contained. Round-number resistance-turned-support levels at 13,000 on the Dow, 3000 on the Nasdaq, and 1400 on the S&P 500 have held up. The S&P was the last to breakout and the first to test support. In fact, it has been testing support at 1400 almost every day since it broke out two weeks ago. Read more about Sector Detector: 1999 redux?
“People who say they don't care what people think are usually desperate to have people think they don't care what people think.” --– George Carlin
Way back in the day, oh, somewhere around May of 2010, a reputed “fat finger” leaned a bit too heavily on the sell button, and traders went all bug-eyed as they watched billions of dollars in market value evaporate into the void of cyberspace in what seemed like a heartbeat. Read more about ETF Periscope: Why BATS is a Black Swan Precursor and VIX a Strong Antidote
Technology led today’s robust rally as the dollar continued to weaken. Financials, especially banks, remained strong the first three days of last week then fell to profit-taking on the final two days, ending down a little more than -0.5% for the week. Today, that sector regained all of that loss and advanced an extra 25 basis points to reach near multi-year highs, although it is still more than 50% off its early 2007 high. Read more about What the Market Wants: Good Start to a New Week
Advocat Inc. (AVCA) is rated Strong Buy by Sabrient for its excellent value and growth scores of 92.9 and 83.8 respectively (out of 100). With less-than-average market risk, it is expected to outperform the market significantly. AVCA's accounting and governance ranks it at the top for conservative practices, which is noted by Sabrient rating AVCA at 82.5 for its Fundamental Score. Beneficial owners have been accumulating positions in this Micro-cap stock. Read more about Rock Solid Yields (RSY): Buy AVCA at $5.59
After last week’s technical breakout on elevated volume, stocks have flattened and trading volume has waned as investors seem to be waiting to see whether there will be a pullback to test new support levels and the bulls’ conviction. I think the bulls are plenty convicted—not conflicted. Read more about Sector Detector: Awaiting the next catalyst
Banks Fairly Valued and Contributing to Market Strength
Continuing last week’s strength, Financials and Technology led the market again today. Banks were up nearly +2% intraday, although they lost some of their steam when put-option trades in Financial ETFs reached 4-month highs. Last week, they roared ahead +7%, and they are now up more than +20% year-to-date. Read more about What the Market Wants: Banks Fairly Valued and Contributing to Market Strength
Editor’s note: Walt Gault is the guest author this week. David Brown will be back next week.
Today, stocks traded lower for their third straight session. The markets were down on news that China had cut its 2012 growth forecast to an eight-year low of 7.5%. Factory orders came in better-than-expected, albeit -1%, versus the expected -1.6%. Read more about What the Market Wants: Be Patient
Author: walter /
Tag: DAN, EZPW, GTE, IEP / 0 Comments
One of Sabrient's 13 shorts in its Investor's Hedge Portfolio, Houston American Energy Corporation (HUSA), fell over -35% today on news that conditions at one of its major wells didn't allow for sufficient testing. As a result, the company says it will be forced to plug the well and evaluate other formations.
Isn't this economy FANTASTIC? 
Way back in the day, oh, somewhere around May of 2010, a reputed “fat finger” leaned a bit too heavily on the sell button, and traders went all bug-eyed as they watched billions of dollars in market value evaporate into the void of cyberspace in what seemed like a heartbeat. 
Technology led today’s robust rally as the dollar continued to weaken. Financials, especially banks, remained strong the first three days of last week then fell to profit-taking on the final two days, ending down a little more than -0.5% for the week. Today, that sector regained all of that loss and advanced an extra 25 basis points to reach near multi-year highs, although it is still more than 50% off its early 2007 high. 
Advocat Inc. (AVCA) is rated Strong Buy by Sabrient for its excellent value and growth scores of 92.9 and 83.8 respectively (out of 100). With less-than-average market risk, it is expected to outperform the market significantly. AVCA's accounting and governance ranks it at the top for conservative practices, which is noted by Sabrient rating AVCA at 82.5 for its Fundamental Score. Beneficial owners have been accumulating positions in this Micro-cap stock. 
Today, stocks traded lower for their third straight session. The markets were down on news that China had cut its 2012 growth forecast to an eight-year low of 7.5%. Factory orders came in better-than-expected, albeit -1%, versus the expected -1.6%.