Street Not Sure What the Hell to Do

Investor’s first readDaily edge before the open

DJIA: 17,678                                    

S&P 500: 2,056

Nasdaq  Comp.:4,863

Russell 2000:    1,231

Friday March 27, 2015   9:04 a.m.

CONCLUSION:

     Yesterday, the DJIA and Nasdaq Comp. briefly broke below the March lows, the S&P 500 did, but rebounded as expected though not dramatically.

     A robust rebound here would suggest stability at best, though I am leaning more toward a sideways-to-slightly-down consolidation.

     Buy the dips has worked for years regardless of  news. One of these days it won’t work, so don’t wander too far from the exit.

      Yesterday’s rally was unimpressive indicating an attempt to decline at the open. Failure to attract buyers before 9:50 suggests a drop in the DJIA to 17,494 (S&P 500: 2,032; Nasdaq Comp.: 4,815)

     Resistance begins at DJIA 17,748, S&P 500: 2,064, Nasdaq Comp. 4,888.

COMMENTS:

     I really don’t think the Street knows what the Hell it wants to do. What it needs is to get off the Fed teet, and stop buying bad news because it reduces odds of a near-term increase in interest rates, and selling good news because it does. Were any of these people around in 2008 when bad was “BAD” ?

    Anyhow, this is a casino for sound sleepers, investors and traders quick afoot and pockets deep enough to offset bad timing with new commitments to average out losers.  At some point, the lemmings will all head for the exit and we’ll get a 12% to 16% plunge.

    I’ve been charting stocks for 47 years and have never seen so much inconsistency/ manipulation in active stocks, especially when earnings reports are released – minefield !

George Brooks

Investor’s first read

A Game-On Analysis, LLC publication

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Note: I discontinued my daily – before – open publishing of Investor’s first read on November 5, 2014, after 6 years (1.600 posts).  Future publishing will be on a less frequent basis and not always before the market opens. In the interim, I will publish as I see necessary as I craft a new format.

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Investor’s first read, is a Game-On Analysis, LLC publication for which George Brooks is sole owner, manager and writer.  Neither Game-On Analysis, LLC, nor George  Brooks  is  registered as an investment advisor.  Ideas expressed herein are the opinions of the writer, are for informational purposes, and are not to serve as the sole basis for any investment decision. References to specific securities should not be construed  as particularized or as investment advice as recommendations that you or any investors purchase or sell these securities on their own account. Readers are expected to assume full responsibility for conducting their own research pursuant to investment decisions in keeping with their tolerance for risk.

 

 

 

 

 

 

 

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