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Market Dynamics

February 14, 2011 – 5:54 pm

Later in the week we are going to have some important economic numbers reported for January, but for today the market is on its own. There is nothing outside or inside the U.S. that is newsworthy enough to push stock prices one way or the other.

The market is flat this morning with a slight nod to the upside. For the market to move downward something has to happen as no news and good news keeps the bull phase firmly in place and only some bad news event will push stocks down. The market is overbought and a correction is needed. That correction is one to buy but if the market continues to march upward without much relief then the correction when it does come may be sharp.

However, you cannot guess when it might happen. The prudent investor will stay with his strong stocks, take profits where appropriate and even buy those stocks that appear to offer value plus growth at attractive prices. Also, it does not hurt to produce a little cash.

Good Trading
Steve Peasley

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