Today being a holiday, I was doing a little catch-up reading in the “Financial Timesâ€? where I read an interesting article on Contrarian Investing. Contrarians believe that you can not make money following a trend. As soon as you catch on to the trend, they reasoned, it was probably ready to reverse. You’d always be getting on board the wrong train, going in the wrong direction, at the wrong time. “You can be a contrarian; or you can be a victim,â€? as quoted by stock guru, Rick Rule, puts it. […]
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The Fed cuts interest rates 50 bp
The March NASDAQ 100 closed lower on Wednesday despite today’s 1/2% cut in interest rates by the Fed as it attempts to bolster the economy. Profit taking along with overriding fears of a possible economic recession led to the late-day sell off. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI remain bullish despite today’s poor performance signaling that sideways to higher prices are possible near-term. Closes above last Friday’s high crossing at 1873.50 are needed to confirm that a short-term […]
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