The S&P surged 64 points (1.26%) on Friday to 5,128 – right up to its 50 DMA (5,130). The 50 DMA continues to serve as resistance and the S&P continues to trade in a range (4950 – 5250) defined by…
If you would have given me Apple’s (AAPL) earnings report before it came out, I would have told you that the stock would be down – possibly by a lot. Because it was decidedly mediocre. And yet it’s +6% in…
Obviously the most important event on tap Thursday is Apple (AAPL) earnings after the close. While the stock is off more than 10% YTD, it is still quite overvalued given the lack of growth IMO. In his piece on AAPL…
As I suggested late afternoon last Thursday, the most likely scenario was for the S&P to gap up to near its 50 DMA in the wake of strong Google (GOOG) and Microsoft (MSFT) earnings and then trade sideways for the…
The bulls are winning the fight. A correction is three to six months [away]. There’s so much fear of missing out – Adam Parker, Trivariate Research, quoted in Barron’s The Trader column 3/23 [SUBSCRIPTION REQUIRED] There’s really no way around…
Fed Chair Jerome Powell was significantly more hawkish than expected in his post Fed Statement press conference Wednesday resulting in a selloff in stocks. Powell said he didn’t think a March rate cut was likely pushing up the odds of…
At the end of his long life, Charlie Munger expressed doubts about the future of value investing: I think that the modern investors, to get ahead, almost has to get in a few stocks that are way above average. They…
Friday was an interesting day in which smaller stocks outperformed mega cap tech – the opposite of what’s happened so far this year. The Russell 2000 (IWM) was +2.92% while the Nasdaq 100 (QQQ) was up only 0.29%. IWM broke…
Stocks ripped higher last week – with the S&P and NASDAQ each gaining about 6% – after the Fed meeting Wednesday as investors concluded that the Fed is done hiking rates for this cycle. You can see this in the…
The crowd is right during the trend but wrong at both ends – Humphrey Neill, The Art of Contrary Thinking Contrarian investing is widely misunderstood. Most of the time it pays to invest with the trend and the crowd. It’s…