Whether it is a computer “glitch”, bailout announcement, or an employment numbers surprise, it appears that the markets are just looking for some news (good or bad) to react to. Without a doubt, the past week has been a whirlwind within the financial markets with the Dow Jones Industrial Average (DJIA) down nearly 1000 points at one point Thursday afternoon. Then on Monday morning we see the same index up more than 400 points. Whether we like it or not, these moves did in fact take place. The good news is that as a result of last week's action, we have seen the generally overbought condition in the market reversed; as most stocks, indexes, and ETFs have pulled back toward the middle of their ten-week trading bands.
The international markets and the trouble in Greece have also grabbed their fair share of headlines over the last couple of weeks and that has made investors nervous about international holdings. Throw in the fact that the US Dollar has been rising and this activity did affect out market indicators: International Equities have moved out of an emphasized position. This sets up a situation where international holdings need to be examined more closely - I am in the process of eliminating the weakest international holdings from portfolios.
Securities and Investment Advisory services offered through NBC Securities, Inc., Member FINRA and SIPC. Investment products 1) are not FDIC insured, 2) not guaranteed by any bank and 3) may lose value including a possible loss of principal invested. NBC Securities does not provide legal or tax advice. Recipients should consult with their own legal or tax professional prior to making any decision with a legal or tax consequence.This is not an offer to sell or buy any securities products, nor should it be construed as investment advice or investment recommendations.
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