-- Published: Thursday, 7 February 2019 | Print | Disqus
Wednesday’s asphyxiating tedium was a reminder that DaBoyz are in no rush to take stocks higher, especially if the short-covering needed to do so is absent. Usually, bear buying-binges are driven by “good” news. On this particular day, however, the headlines concerned a State of the Union speech that held little interest for Wall Street. Toss in the usual bilge concerning political bickering, Mueller’s supposed investigation and such, and you begin to see why ginning up a rally would have been so difficult.
Nevertheless, the chart of AAPL (see inset), which has regained its leadership status as the bear rally has progressed, looks constructive. One could argue that the stock, as well as a few others controlled by institutions, are in a bullish holding pattern pending “news” capable of goading bears into doing some heavy lifting. It’s hard to imagine what the news will be, although rehashing the Fed’s policy shift toward “not tightening” has gotten fabulous mileage so far.
If you want a closer look atRick’s Picks,click hereto sign up at the top of the home page for a free two-week trial subscription -- no credit card needed. Drop by the 24/7 chat room first — and be sure to say hello when you arrive!
The content on this site is protected
by U.S. and international copyright laws and is the property of GoldSeek.com
and/or the providers of the content under license. By "content" we mean any
information, mode of expression, or other materials and services found on GoldSeek.com.
This includes editorials, news, our writings, graphics, and any and all other
features found on the site. Please contact
us for any further information.
Live GoldSeek Visitor Map | Disclaimer
The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy
or completeness of the information (including news, editorials, prices, statistics,
analyses and the like) provided through its service. Any copying, reproduction
and/or redistribution of any of the documents, data, content or materials contained
on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC,
is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.