Bob Doll Hears A Bell Ringing At The Bottom
Another bottom caller: Bob Doll, Chief Investment Officer at Blackrock, called a bottom this morning on CNBC’s Squawk Box (9 minute video clip).
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Sentiment Shift: Many Call A Bottom
In investing, opportunities arise when perception and reality diverge. Hence, it is important to understand not only reality but perception as well. This is a difficult concept to understand but, in my opinion, is the key to superior performance. *****…
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Horrible News + Flat/Slightly Down Market = Up From Here
This is the second day in the last week where horrible news might have led you to expect a big selloff that hasn’t materialized. Last Friday, a -63,000 jobs number really didn’t lead to too big of a selloff. And…
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Value Investors Continue To Sniff Around
Some interesting pieces today on valuation: The Wall Street Journal ran an article “Are Low P/E’s A Valid Reason To Buy Stocks?” (subscription required). With the forward P/E on the S&P at 13.2 compared to a historical average of 16.5 going…
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A Number Of Superb Value Funds Have Recently Reopened
With stock indexes well off their highs and continuing to struggle, many investors, including some of the best value players in the game, are starting to see opportunities. I first suggested this was the case on January 20: “Some Investors…
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Technicians See A “Wedge”
Many of the respected technicians I follow see the market indexes currently forming a wedge. This is a series of lower highs and higher lows that form a tighter and tighter range (see, for example, S&P Wedge Chart and QQQQ Wedge…
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A Notable Call On Blue Nile
This morning before the open Notable Calls, a blog on my blogroll that focuses on notable calls from the Wall Street analyst community, put up a post “Blue Nile (NILE): Bounce @ $40?” (For some reason I can’t get the…
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Market Mood Appears To Be Improving
“The January retail sales data is not consistent with either same store chain sales or total vehicle sales during the sampling period.” – Joseph Brusuelas, IDEAglobal The surface rationale for today’s move is a stronger than expected January Retail Sales…
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Stocks Now Priced For Mild Recession
With the Nasdaq and Russell about 20% off their highs and the Dow and S&P 15% off, valuations reasonable (“A Contrarian’s Way To Play Recession”, Barron’s interview with T. Rowe Price Capital Apprecation Fund portfolio manager David Giroux (subscription required), Friday February 8;…
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Wait And See Market
That path of least resistance is down as very few appear to be in the mood to buy. Tim Knight compares the day’s action to “Fog”. With almost everybody now forecasting or believing we are in a recession (“Economists Raise…