The Market Isn't Listening
There were some good excuses for selling today, but the bulls just weren't interested. Instead of worrying about the lower-than-expected GDP number and the downgrade of Spanish debt, they focused on good earnings reports and chased momentum in Amazon (AMZN), Priceline (PCLN) and LinkedIn (LNKD).
We have seen this sort of action often since the low in March 2009, and the lesson is that the more worried folks are about the macroeconomic situation, the easier it is for momentum to build in individual stocks. The strength feeds on itself as underinvested bulls and squeezed bears are forced to pay up and give up on the negative big picture arguments they have been embracing....177 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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