Posted on 01/02/2019 1:07:20 PM PST by abb
U.S. stocks posted slight gains on Wednesday after a volatile session kicked off 2019.
The Dow Jones Industrial Average closed 18 points higher after dropping nearly 400 points earlier in the day. The S&P 500 gained 0.1 percent while the Nasdaq Composite climbed 0.46 percent. At their lows of the day, the S&P 500 were both down more than 1 percent.
Finally, were starting to see this buy-the-dip mentality creep into the market, said Phil Blancato, CEO of Ladenburg Thalmann Asset Management. Its because of valuations and its because the underlying data has been pretty good so far, albeit a bit softer.
I think the market has accepted that, its now capitulated and I think we grind higher here, Blancato said.
Facebook and Amazon rose 4.3 percent and 2.6 percent, respectively, to help the Nasdaq pare its losses. Bank shares erased their earlier losses as Goldman Sachs, Bank of America and J.P. Morgan Chase all climbed more than 1 percent.
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(Excerpt) Read more at cnbc.com ...
6 months from now people will look back and will wish they had bought in at these prices.
Buy in the morning, sell in the afternoon....what could be easier?
Apple has halted after hour trading on pending news. I don’t know what the pending news is.
6 months from now people will look back and will wish they had bought in at these prices.
...
Hope so...I still can’t help rooting against FANGs, however...those who sat young Obama’s table toasting each other...
They just “warned” on Q1 earnings.
Apple cuts revenue forecast on weak China sales
https://finance.yahoo.com/news/apple-lowers-quarterly-revenue-forecast-213837063.html
It’s quite possible the market will take a royal dump soon when the S&p 100 mda drops below the 200
That happened in Sept 2015 and while there was a snap-back rally the going was rough for the next six months until it hit a double bottom.
The DOW is now down 290 in after hours at 6:00 est.
Stocks still very over-priced. I am expecting DOW 2100 during 2019.
Sharp and blistering rallies are typical symptoms of bear markets. Bull markets live on lack of selling. Bear markets thrive on bottom pickers jumping in to buy, only to watch more lack of consistent buyers.
Yep might happen like that again
When a stock market becomes a daily crapshoot, is it still a market?
Cry me a river and I still won't give a crap what some pinhead says about President Trump...
I doubt your predictive powers, though its possible we could temporarily hit 21,000. What I disagree with is the blanket statement that stocks are very overpriced. I have been buying up very good companies with low P/E. Plenty out there, too.
Perhaps...but if they keep it artificially high a while longer they can still manipulate some big quick earnings for the richest gamers....
Of course I am talking about the overall market represented more by SPX500, not individual companies.
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