Scalper1 News
Major averages closed yesterday nearly breakeven on mixed volume after a failed rally attempt. The indexes initially gapped up at the open after weak U.S. retail sales were seen as a positive given the Fed’s stated data dependence when it comes to the timing of interest rate increases. The net result was that the indexes remain in their current choppy range. Sideways markets exhaust investors by truly testing one’s patience. Nevertheless, being quick to take profits and cut losses has been the way of things especially for the last couple of years. While baby-stepping one’s account higher can add up over a number of months to a sizable gain, discipline has never been more critical as one sloppy trade where one lets losses run can undo many baby steps. So patience together with optimism in knowing such trendless periods always come to an end can help one’s investment psychology. And serving as a contrarian indicator, Investors Intelligence bullish sentiment has dipped to 47.5%, the lowest level since November. Futures are up sharply this morning as the U.S. dollar collapses, gold rallies, and investors in Europe continue to dump bonds. Chinese online gaming company Netease (NTES) had a pocket pivot yesterday. Pretax margin 46.5%, ROE 21.6%, sales are accelerating, group rank 10. Scalper1 News
Scalper1 News