Online Stock Trading | Another Failed Rally Attempt

Another Failed Rally Attempt


Filed Under Market Commentary |

Day 3 ended with our 3rd failed rally attempt. More Fed talk, more fear. There is a direct correlation with investors fears about the FED going too far. On CNBC’s show Closing Bell with Maria Bartiromo, George Soros is in the camp that the FED will overshoot. I have no doubts in my mind the Fed will overshoot interest rates. In addition to Fed Fear, the yield curve continues to be inverted.

Just a horrible showing for stocks, Russell 2k lead the way down 2.59% followed by Nasdaq down 2.05%, S&P500 down 1.27%, Dow down .91%, S&P400 down 2.24%, S&P600 down 2.45% all and all just desperate.

Only two of my stocks on my watch list were postive…AERTA and FMD.

This is a very difficult market environment…please stay on the sidelines and watch how stocks react. I think we’ll be waiting a while for a confirmed new rally.

There isn’t much more to explain here…its a very dangerous market to go long. At our next attempted rally we’ll see an opportunity for short selling.

For more of my thoughts please visit Investors Paradise.

MktSpec

***Note*** Very limited market commentary starting this Friday June 16th through the 24th.

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