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 ...
Looking For Vigilance?
Here’s a link to listen to an Audio Version of the report:
At first glance, it appeared that the stock market got everything it was looking for yesterday. On the economic front, the GDP report actually came in a bit better than expected and was by no means the disaster that many feared. Yes, it was true that the growth for the quarter was due entirely to a buildup in inventories. But, with expectations for those inventories to be worked off in Q2, the bottom line is that, so far at least, the economy has technically avoided a recession.
Next up, it looked like the Fed delivered the goods in their announcement of a one-quarter point cut in both the Fed Funds and the Discount Rate and the intimation that they were moving toward a neutral stance. This was the seventh rate reduction in this cycle and ...
StreetInsider.com Trading Radar:
MBA Mortgage Applications are expected at 7AM ET
ADP Employment Changes are expected at 8:15AM ET with analysts looking for 40K
Q4 GDP Annualized is expected at 8:30AM ET with analysts looking for 1.2%
Personal Consumption is expected at 8:30AM ET with analysts looking for 2.6%
Core PCE is expected at 8:30AM ET with analysts looking for 2.5%
Personal Consumption is expected at 8:30AM ET with analysts looking for 2.6%
Altria (NYSE: MO) is ...
