Don't Fight The Tape
Adam Sarhan is a contributing writer to Minyanville.com. Earlier today he published this article and sent a related note to FindLeadingStocks.com members.
Don’t Fight The Tape:
Adam Sarhan is a contributing writer to Minyanville.com. Earlier today he published this article and sent a related note to FindLeadingStocks.com members.
Don’t Fight The Tape:
In case you didn’t know the euro is celebrating its 10 year anniversary this year. The name was officially adopted on December 16, 1995 and was introduced to the financial markets on January 1, 1999. Three years later, On January 1, 2002, the euro entered circulation and has emerged as the world’s second reserve currency behind the US dollar.
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Adam Sarhan
Founder
The Sarhan Analysis
Looking For Leading Stocks? Take A FREE 2-week Today The Greatest Investor Of All-Time Many people overlook their mistakes and only look at their strengths. The problem is doing this invariably leads to more mistakes (repeating the same mistakes over and over again). Many people look at Warren Buffett, the most successful investor in history,…
An investor’s job is simple, but not easy. We have one goal: identify and capitalize on opportunities in the marketplace. Here are 10 stocks that are on my watchlist for Wednesday 12.09.09:
Sovereign debt woes continue to be the bane of this rally. At the end of April the S&P Rating Agency downgraded Greece’s debt to “junk” status, which accelerated the steep sell-off in the euro and sent it down to its 2008 lows! This sparked a world-wide panic sell-off which sent stocks plunging. In addition, Spain and Portugal’s debt was also downgraded which put pressure on a host of capital markets. Italy and Iceland are the two nations which analysts believe are also dealing with ominous debt levels. All of this helped the US dollar enjoy one of its strongest gains against the euro in over a year. Since November, the greenback has rallied smartly and jumped above its 50-day moving average (DMA) and 200 DMA lines. As expected, the stronger dollar sent US stocks and a slew of commodities (i.e. dollar denominated assets) lower as investors continue to debate our economic future.
Long Sideways Patterns Are Normal For The Stock Market: This is one of my favorite charts because it clearly shows that we are in the middle of a long (12 yr) sideways pattern in the US stock market. These long sideways periods are “normal,” have happened before, and will happen again. …And So…