KUDOS - TO WHOM, THOUGH?

  • Are we to congratulate / thank the Bank of Japan for starting QE just as the FOMC ended ours?  Seems silly for them to be doing QE when their rates remain near lows.  Seems sillier for them to literally be investing in stocks and ETFs as part of that effort - as if there's no risk there.
  • So, the market has rallied back to the September highs - with many key stocks already having broken through to new highs.  However, there are a good number of stocks that are nowhere near setting new highs.  
  • As a matter of discipline, our long-term equity slots remain un-invested.  Several, however, are simply waiting for a successful re-test of the 200-day moving averages for "buys" to be triggered.  
  • Our short-term / opportunistic signal gave us a "buy" one day prior to the market's bottom in October - so we know that's working.  Now, we just have to wait for the next "buy" to occur.  
  • Will the equity markets really sell off during the November to January time frame?  Seasonal trends say "no", but a failure on the part of the S&P and/or NASDAQ futures to hit new highs (above September peaks) would say "yes" to that question.  
Posted to Peak Analytics' Direction F… on Oct 31, 2014 — 2:10 PM

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