Today’s Stocks & Topics: (CEG) Constellation Energy Grp Inc., (BBEP) BreitBurn Energy Partners LP, (DPO) Dow 30 Enhanced Premium & Income Fund Inc., (WSTCX) Ivy:Science&Tech;C, The Stock Market, (INTC) Intel Corporation, (PCU) Southern Copper Corp.
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The market is still in the midst of its pullback as investors and traders decide their next move. They are confident that this is a correction but are undecided on its depth. For long term investors it’s an opportunity and for short term investors, the ones pushing prices around, they’re deciding if the fall in prices is deep enough for them to step back in.
Either way this correction restores health to our market. Stock prices do no go in one direction without pause either up or down.
The odds are good that we will see another leg up once the correction has shaken out the weak hands.
The earnings reports and more importantly the economic data is clearly showing an improving economy. With outsized government spending taking place, this year the economy should gain strength and that will mean strong corporate earnings for most of this year. The market will recognize that at some point.
At the moment, investors and traders are focused on debt. However, one way to trump debt is by a growing economy which will produce more tax dollars. Cutting spending is the only other way to control debt, but that will have to wait. It’s not possible in this political environment, and maybe we shouldn’t cut debt as the economy is very fragile.
Good Trading
Steve Peasley
Today’s Stocks & Topics: (POT) Potash Corporation of Saskatchewan Inc., International Stocks, (KONG) KongZhong Corp., (UUP) PowerShares DB US Dollar Bullish Fund, (SXL) Sunoco Logistics Partners LP.
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Today’s Stocks & Topics: Solar Power, (VOD) Vodafone Group PLC, (TM) Toyota Motor Corp., Roth IRA, Dividend Yield, (QCOM) QUALCOMM Inc., The Stock Market, (QQQQ) PowerShares QQQ, (KMGB) KMG Chemicals Inc.
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Out this morning is the ISM report for the nonmanufacturing sector of our economy which gave us a number for January of 50.5 from 49.8 in December. Earlier in the week the ISM Manufacturing report was well above 50. Above 50 is an expanding economy and below 50 is a shrinking economy. So, both the service and non service sectors are expanding.
Earnings season is winding down. 80% of all reported companies beat their expectations, but what is more important is that 60% of
those reports beat their sales expectations as well. That is a sign that earnings growth may well be sustainable.
That is only true if the economy is expanding and the evidence is building that though the growth is not robust it is on track and gaining some momentum. This is a healthy background for the stock market but of course it does not ensure rising stock prices, only a strong probability.
Good Trading
Steve Peasley
Today’s Stocks & Topics: (TM) Toyota Motor Corp., (XFP) Corporate Backed Tr Ctfs., Bad Time To Buy Stocks?, (JST) Jinpan International Ltd., Bonds, (XTEX) Crosstex Energy LP, (NEU) Newmarket Corp., (BIDU) Baidu Inc.
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Today’s Stocks & Topics: 403-B, Dividends, (IMF) Western Asset Inflation Management Fund Inc., (MA) Mastercard Inc., (COT) Cott Corporation, The Dollar, (CDII) China Direct Inds Inc., (AVY) Avery Dennison Corp., The Stock Market.
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The stock market has some very unusual idiosyncrasies. From day-to-day, its reactions are insane. One day the market is depressed because North Korea shot off a couple missiles or a terrorist bomb killed a bunch of innocent people. But in the long term, stock prices go up and down based on earnings.
