The Downtrend Continues

 | Nov 14, 2012 | 2:30 PM EST  | Comments
  • Comment
  • Print Print
  • Print

The day is winding down and the market is making new lows. President Obama's press conference did nothing to reassure the market that a fiscal cliff deal is forthcoming and the minutes of the FOMC meeting made it sound like the Fed is pretty much out of bullets.

In other words, we have no positives to entice buyers into this market so the downtrend continues.

Respecting that we are in a downtrend and not trying to predict a market turn works well, and I continue to see no reason to change that stance. We'll have a bounce eventually, but as I've often said, trends tend to last much longer than most people think is reasonable. Those who were fighting the uptrend in August and September are the same people fighting the downtrend now.

Respect the trend.

Columnist Conversations

This is just ONE area to keep an eye on for a bounce along with the timing work mentioned in the article. Act...
Doug, cash is always an alternative. You will get your bupkes-point-five rate of return less taxes and expect...
so it sure feels like a close at the low situation...
Startling remarks made by current RBI head honcho Raghuram Rajan and once part of President Obama's inner circ...

BEST IDEAS

REAL MONEY'S BEST IDEAS

News Breaks

Powered by

Columnist Tweets

BROKERAGE PARTNERS

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.


TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.