The Day Ahead: A Spate of Ignored Negatives
These days I really do find myself torn between two opposing worlds, each with their own specific allure. One is the attack-dog-type stock research I thoroughly enjoy. Here, it would be wiser to stick with principles I've learned and ignore anything resembling the word "macro," including a Federal Reserve statement. The other is the rationalization of newsy events for purposes of column-authoring. Here, a Fed rate decision overshadows whatever research I've done, because every second the market is open for business is a moment to cover new clues on the next direction for stocks.
Amid this, throughout this weeks-long rally I have dissected the merits behind numerous market-top calls. doubted the strength and sustainability of corporate earnings, I've watched the Street lick up lame macroeconomic data -- which is apparently OK as it's not super lame. Now we have the Fed piping in its two cents into a market that is looking for an excuse to blow off some steam -- honestly, I could spot a bunch of key stocks I follow that appear to be showing exhaustion....376 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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