Don't Count a Good Market Out
Last night was feeling like the decline was about to accelarate and take hold. And then just like that buyers abound and rally the market. Leading stocks also came back with a vengenance: SBS, OSG, GS, CBEY, RIMM, SCI, EL, AMX, to name a few. Two things happened today - the market tested/held last week's 1487 low and the market closed above Monday's high. These are very short term observations which make them somewhat suspect but its certainly a step in the right direction. Also, the market landed in the range I proposed for this correction low. That's merely an educated guess and we were not high fiving today that the danger is passed. However, it's encouraging that the market rose on good volume, breadth was excellent, and new highs expanded. Utilities came on strong as rates fell and that's a must. As go bonds so goes stocks. Stay tunes for more...
Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this newsletter (article), will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for your portfolio. Due to various factors, including changing market conditions, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter (article) serves as the receipt of, or as a substitute for, personalized investment advice from Geller Capital Management, LLC. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. A copy of our current written disclosure statement discussing our advisory services and fees is available for review upon request.
Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this newsletter (article), will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for your portfolio. Due to various factors, including changing market conditions, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter (article) serves as the receipt of, or as a substitute for, personalized investment advice from Geller Capital Management, LLC. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. A copy of our current written disclosure statement discussing our advisory services and fees is available for review upon request.
posted by David Geller at 4:01 PM
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