The Outlook Thursday's early morning plunge, thanks in no small part to stocks like META which collapsed right from the open, was also a reaction to the lower than expected GDP number. It was just two weeks ago that investors were being warned that the economy was strong and consumers spending. Analysts were warning the Fed may raise rates...
The Outlook Thursday will see selling following the plunge in Meta Stock (META) and International Business Machines Stock (IBM) after hours on Wednesday. The worse was in Meta which was "way overdone". I plan to sell put options on Thursday in META but other investors may want to wait for the stock to show signs of bottoming. The selling after...
The Outlook After two days of rallying the index looks set to slow the rally which means some selling could erupt. The outlook though is still for a higher close. Overall analysts are beginning to switch to a move higher and an end to the correction. That might be a bit premature. We should have a better idea once we run into some sellers and see...
The Outlook Monday saw an excellent bounce with broad market participation but the close left behind a candlestick that often signals lower closes are still ahead. I am staying cautious and continuing to use the Put Options Selling Tools to stay primarily with stocks it continues to identify as in uptrends. By mid-week we should have a better...
The Outlook As stocks continue to tumble lead in large part by semiconductor stocks, the outlook isn't changing. The index still is very oversold and could try a bounce at any time. The problem at present is that the downturn is not pulling all stocks lower. This is not a market collapse but still a correction. This makes a bounce hard to sustain...
The Outlook There is a chance on Friday we could see a better bounce attempt. We could also see the SPX slip below 5000 first and then try to bounce. The index is down 4.8% which is a typical bull market correction. The technical indicators have been advising for the past two days is the market is deeply oversold. Whether today's expected rally...