Bank of America upgrades Host Hotels & Resorts (NYSE: HST) ...
Don’t Fight the Tape?
When I got started in the business of the stock market back in the early 1980’s, the first two Wall Street-isms I learned were “Don’t fight the Fed” and “Don’t fight the Tape.” The idea behind each of these beloved clichés is that it rarely, if ever, pays to argue with Ms. Market or the folks that control the purse strings.
Perhaps the other big message to be taken out of these two phrases is that when dealing with the stock market, the words ‘could,’ ‘should,’ and ‘would’ should be removed from your vocabulary. You see, as an investor your primary job is to keep your portfolios in line with what the market IS doing instead of what you or someone else thinks it ought to be doing.
In fact, the reason I began penning my morning missive was to make sure that I kept myself ...
UPGRADES:
Bank of America upgrades Brocade (Nasdaq: BRCD) from Neutral to Buy with a $6 price target.
Goldman Sachs upgrades Albemarle Corp. (NYSE: ALB) from Neutral to Buy and added the stock to its Conviction Buy List.
J.P. Morgan upgrades Dr Pepper Snapple Group (NYSE: DPS) from Underweight ...
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The End of Down Days?
After putting in the best five-week rally since 1933, it will suffice to say that the market is more than a little overbought and due for at least a ‘pause that refreshes.’ Thus, experienced traders know that in this type of situation, virtually any news item can be used as an excuse du jour to trigger a pullback. From there, the bulls, recognizing that their opponents are overdue for a day or two in the sun, usually “stand aside” and let the bears have their way for a bit.
Before the opening bell yesterday, it appeared that the newswires just might provide the bears the impetus they needed to get something going to the downside. We had the NY Times report that the Treasury was pushing GM (GM) into bankruptcy against the company’s wishes; we had a production cut at Boeing (BA); we had ...
Bank of America resumes coverage on Host Hotels ...
