|Day Low/High||47.09 / 47.96|
|52 Wk Low/High||31.42 / 62.18|
Bears continue to have a tough time gaining traction.
The inability to generate sufficient momentum for new highs is concerning.
If you follow the adage about cutting losses quickly and letting winners run, it is possible to generate some very attractive returns.
Computer programming has found that buying bad-news dips is a consistent winner.
There is hesitancy to chase, especially with the FOMC rate decision this afternoon.
One of those days where we are digesting the recent action.
Financial engineering by central banks has corrupted the way contrary sentiment works.
Conditions are still overbought, staying stubbornly sticky to the upside.
Keep in mind that strong action like this tends to create underlying support.
Stocks run up or down more than most people think is reasonable.
Despite the S&P 500 reaching an all-time high, there is some hesitancy to keep chasing.
The Friday action was so surprising that many were poorly positioned -- and they are still scrambling to reposition.
The fabled trader went broke at times, but made a killing in 1929.
The problem is that the Fed's forecasting has proven to be abysmal at best.
The poor close today is an indication that the market is losing its confidence in the Fed.
The trading environment is rather benign as we wait for Janet Yellen.
I flipped out of Twitter for a quick gain and will look for more trades like it.
When you see this sort of ugly market open, have a list of stocks you're ready to buy on weakness.