d******8
发帖数: 1972 | 1 After so much negativity, it was hard not to notice that a modest amount of
optimism seemed to be creeping back into the market with the Dow [.DJIA
11594.84 71.83 (+0.62%) ] and S&P [.SPX 1199.83 7.28 (+0.61%) ]
trading higher for a second consecutive day.
”The market didn’t sell Monday’s strength,” muses trader Joe Terranova.
“That suggests we may have found a bottom at 1155.”
In addition to the technicals, ”The fundamentals aren’t terrible, either,
” adds trader Brian Kelly.
Kelly is referencing new data, which showed consumer confidence bounced back
from a 2-1/2 year low in November. Also retailers racked up record sales
over the Thanksgiving weekend.
And overseas, Italian bond yields fell from session highs, calming fears
about Europe's debt crisis.
How should you position now? What should you be watching?
Although he’s relatively bullish, trader Joe Terranova doesn’t advocate
increasing weightings just yet.
Instead he says wait until late week and see how the market reacts to these
catalysts:
- PMI data out of Europe,
- Chinese economic data
- US jobs report, scheduled for Friday morning.
Once we get that data and see how the market digests it, ”That’s when we’
ll know if Santa Claus is coming to town,” Terranova says.
Trader Patty Edwards is on the same page as Terranova. She’s making a list
but she’s also checking it twice – and not buying -- until she has a
better sense of these imporant economic data points come out.
And of those 3 catalysts, ”Watch Europe,” counsels Brian Kelly. That
matters most.
“One positive headline that suggests the ECB is the buyer of last resort
and the S&P could be off to the races,” he speculates.
And if the S&P does rally, Kelly sees every reason for stocks to rally hard
with a chase for performance and forced short covering generating tailwinds.
Trader Steve Cortes is on the other side; he thinks the market is range
bound and approaching levels of resistance. “Wait for the market to climb
then put new shorts on,” he says.
To support his thesis, Cortes points to the action in Apple. “When Apple [
AAPL 372.00 -4.12 (-1.1%) ] doesn’t lead the charge – the market
tends to have a lot of problems, and Apple is not leading the charge.”
What do you think? We want to know! | k********n
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