Monday, February 14, 2011 Stock Market Commentary:
Stocks were relatively quiet on Valentines Day. The major averages and leading stocks added to their 25-week rally which continues to show no signs of stopping. It is encouraging to see leading stocks and the major averages continue to respond well to the recent slew of stronger-than-expected earnings and economic data. The fact that the major averages bounced back sharply after a very brief pullback illustrates how strong this 24-week rally actually is.
China’s Exports Rise; Obama Cuts Deficit:
China’s exports surged last month which bodes well for the global economy. China said that exports vaulted +37.7% – more than double December’s rate – to $150.7 billion. Stronger Chinese exports suggests consumer demand is rising as well. In the U.S., President Barack Obama proposed a budget that would cut the deficit by $1.1 trillion over the next 10 years. The White House said a $3.729 trillion budget in which the deficit rose to $1.645 trillion in fiscal 2011, then will fall sharply to $1.101 trillion in 2012.
Market Action- Confirmed Rally; Week 25 Begins
It was encouraging to see the bulls show up and defend the major averages’ respective 50 DMA lines in November as this market proves resilient and simply refuses to go down. From our point of view, the market remains in a confirmed rally until those levels are breached. The tech-heavy Nasdaq composite and small-cap Russell 2000 indexes continue to lead evidenced by their shallow correction and strong recovery. However, it is important to note that stocks are a bit extended here and a pullback of some sort (back to the 50 DMA lines) would do wonders to restore the health of this bull market. If you are looking for specific high ranked ideas, please contact us for more information.
Host Of The #SmartMoneyCircle Podcast, Founder and CEO of 50 Park Investments. Adam provides weekly market updates to ChartYourTrade.com readers. He is a FORBES Contributor and is a frequent guest on all the major financial media outlets.
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Disclaimer: All communication from ChartYourTrade is general in nature and for educational and general informational purposes only. Under no circumstance should it be considered personalized investment advice. All our work is general in nature and not specific to any one person. All the information on this site and/or that originates from us, or any of our partners or affiliates, is for educational and informational purposes only and is NOT a recommendation to buy or sell anything. To avoid any conflicts of interest, we do not have a working relationship with any of the companies mentioned in our work. Furthermore, we may have a long, short, or no position in any, or all, of the names that appear in our work and they may change at any time without notice. Investing and trading in capital markets or using margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. Before you decide to invest or trade in capital markets you should carefully consider your investment objectives, level of experience, and risk appetite, among other factors. The possibility exists that you could sustain a loss of some, all, or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with capital markets, investing/trading, and seek specific investment advice from an independent financial advisor and other professionals. Remember all the information we provide is for educational and general informational purposes only and is subject to change without notice.
25-Week Rally Begins
Monday, February 14, 2011
Stock Market Commentary:
Stocks were relatively quiet on Valentines Day. The major averages and leading stocks added to their 25-week rally which continues to show no signs of stopping. It is encouraging to see leading stocks and the major averages continue to respond well to the recent slew of stronger-than-expected earnings and economic data. The fact that the major averages bounced back sharply after a very brief pullback illustrates how strong this 24-week rally actually is.
China’s Exports Rise; Obama Cuts Deficit:
China’s exports surged last month which bodes well for the global economy. China said that exports vaulted +37.7% – more than double December’s rate – to $150.7 billion. Stronger Chinese exports suggests consumer demand is rising as well. In the U.S., President Barack Obama proposed a budget that would cut the deficit by $1.1 trillion over the next 10 years. The White House said a $3.729 trillion budget in which the deficit rose to $1.645 trillion in fiscal 2011, then will fall sharply to $1.101 trillion in 2012.
Market Action- Confirmed Rally; Week 25 Begins
It was encouraging to see the bulls show up and defend the major averages’ respective 50 DMA lines in November as this market proves resilient and simply refuses to go down. From our point of view, the market remains in a confirmed rally until those levels are breached. The tech-heavy Nasdaq composite and small-cap Russell 2000 indexes continue to lead evidenced by their shallow correction and strong recovery. However, it is important to note that stocks are a bit extended here and a pullback of some sort (back to the 50 DMA lines) would do wonders to restore the health of this bull market. If you are looking for specific high ranked ideas, please contact us for more information.
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Disclaimer: All communication from ChartYourTrade is general in nature and for educational and general informational purposes only. Under no circumstance should it be considered personalized investment advice. All our work is general in nature and not specific to any one person. All the information on this site and/or that originates from us, or any of our partners or affiliates, is for educational and informational purposes only and is NOT a recommendation to buy or sell anything. To avoid any conflicts of interest, we do not have a working relationship with any of the companies mentioned in our work. Furthermore, we may have a long, short, or no position in any, or all, of the names that appear in our work and they may change at any time without notice. Investing and trading in capital markets or using margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. Before you decide to invest or trade in capital markets you should carefully consider your investment objectives, level of experience, and risk appetite, among other factors. The possibility exists that you could sustain a loss of some, all, or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with capital markets, investing/trading, and seek specific investment advice from an independent financial advisor and other professionals. Remember all the information we provide is for educational and general informational purposes only and is subject to change without notice.
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