The SPX (S&P 500 Index) has finally crossed my important level 1313 and has now settled around 1408, about a 5 point difference. I have a feeling that the the earnings season will not improve and continue to to decelerate because of global economic conditions. Other than that the markets have needed to correct, but market sentiment has continued to push the market upward. Finally the market is starting to realize the trouble we are in. Now I would also like to make clear the market still could have room to go up, but we are due for at least a short-term correction. I do still believe that stocks may rise in the mid-term. Especially if we get some better earnings.
Technology Stocks (AAPL, GOOG, IBM,FB)
I lately have seen some bearish action in many technology stocks. Most of this action has occured because have terrible earnings reports. If stock markets due rally I will buy this sector on a hope that the market will fill some of the gap left over. The market does a good job of pricing things and if anything is seen has over or underpriced the market will correct the price gap. That is likley to happen if stock markets go up, I will do the opposite if they go down. My best choice is FB because of its wonderful earnings report.
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