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Wait For Signs of A Correction

It was another strong week for stocks as the overall positive earnings have sustained the bullish momentum. All the major averages made new highs and the bullish % from the latest AAII survey jumped 7.2% to 35.5%. It had been below 30% for the past three weeks and this is the highest bullish % since…
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Should You Buy The Airline Stocks On An Earnings Dip?

The new high in the Dow Transports last Friday generated some new bullish market calls. The rapid reversal over the past few days has caught many by surprise as it dropped over 2% in three days. The market’s reaction to Tuesday’s earnings from United Continental (UAL) has not helped. They beat on earnings and revenues…
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Follow The Charts Not The Earnings

The week started off with many on Wall Street still convinced that the Federal Reserve would act irrationally and raise rates quickly. After their careful steps to recover from the great recession I thought this was unlikely. The mid-week testimony by Fed Chair Janet Yellen reassured the markets but I am sure some are still…
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Correction Lures Bears Out Of The Woods

Given the recent increase in volatility the choppy action last week was not surprising. The sharp increase in bond yields last Tuesday has some of the bond gurus again warning investors about much worse times ahead. The FOMC and ECB minutes helped encourage nervous bond investors to sell. The monthly chart of the yield on…
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Traders – Don’t Forget To Take Profits

One of the key technical tools that I use to select the best performing ETFs and stocks is the relative performance analysis. Two of my previous trading lessons How To Identify Sector ETFs Before They Make Big Moves and Building A ETF Portfolio For 2016 discuss some examples of how I use this analysis. For…
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The Week Ahead: Does An S&P Target Of 2700 Make You Nervous?

The stock market rewarded both the bulls and the bears last week but in different ways as while the tech holders endured more pain those in financial stocks were rewarded. The action confounded many in the financial TV media as from one day to the next they did not know whether to run bullish or…
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