News of investors pouring more money into stock mutual funds than at any time in13 years may have heartened bears, driven by the well-documented fact that the individual investor buys at the top and sells at the bottom.
The fact that $172 billion was pumped into stock funds through October this year, the largest amount since $272 billion in all of 2000, should give pros reason to watch their backs.
Fed Vice-Chair Janet Yellen’s comments about Fed policy two weeks ago
ensured the STREET that Fed policy would remain accommodative with her at the helm.
For many this was a bright green light to go all-in.
For others, it was a sign the end is near.
I continue to believe this bull market has further to run, just not in a
Straight line. I see a risk of a correction in Q1, probably January, but from a higher level. I do not think the speculative fever has escalated nearly
enough to mark a top.
I HAVE SPENT THE WEEK IN THE HOSPITAL FOLLOWING SURGERY. I WAS ABLE TO FOLLOW THE MARKET, BUT I COULDN’T DO ANY WRITING. I EXPECT TO GO HOME TODAY.
first read - a daily edge before the open
S&P 500: 1,795
Nasdaq Comp.: 3,969
Russell 2000: 1,119
Friday, Nov. 22, 2013 8:14 a.m.
Technical Timing - Opportunity Stocks
The following are based on technical analysis only and are not buy or sell recommendations. Comments do no take into consideration fundamentals, such as earnings projections, reports, company guidance, or changes in institutional and broker’s ratings.
Technical analysis is based on the interpretation buying and selling has on a stock or the stock market and how that may affect their future movements.
Apple (AAPL: $521.13 +$6.13) Positive
Support: $518, Resistance: $529
Facebook (FB: $46.70 +$0.27) Weak Positive
Support: $45.90 Resistance:$47.40
IBM (IBM:$184.13 -$1.06) Positive
Should bounce off $182 support Resistance $185.70
Pulte (PHM:$18.38 +0.26) Positive
Support: $18.10 Resistance:$18.65,
First Solar (FSLR: $61.98 +$1.10) Positive
Polaris (PII:$134.46 +$3.73) Positive
Amazon(AMZN:$368.82 +6.35) Positive
Support:$366 Resistance $373
Hewlett Packard(HPQ:$25.03 +$0.09)
Pandora (P:$29.68 +$1.24) Positive
Investor’s first read -
a daily edge before the open
The writer of Investor’s first read, George Brooks, is not registered as an investment advisor. Ideas expressed herein are the opinions of the writer, are for informational purposes, and are not to serve as the sole basis for any investment decision. Readers are expected to assume full responsibility for conducting their own research pursuant to investment decisions in keeping with their tolerance for risk.
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