-- Market Bites --
Thursday, 14th January, 2016
Trading courage will be required to remain in the game – and for those that do there is every chance that a turnaround is highly likely before the end of the week!
Yesterday’s performance was frightening – with the Dow Jones Industrial Average (DJIA) down 2.2%, the S&P 500 Index (SPX) declining 2.5%, and the Nasdaq Composite (COMP) with a massive loss of 3.4%. The reason appeared to be fear of a global economic slowdown caused by China’s woes and a bearish inventory report.
With crude oil remaining near 12-year lows, transportation stocks were among the hardest hit, followed up by consumer discretionary stocks.
This meltdown was mainly due to investor fear, despite the fact that the U.S. economy is travelling along nicely, as shown by the Fed's Beige Book where
economic expansion in nine of the nation's 12 regions was noted.
Technically, all three major indices are now considered to be in a correction phase. The word “correction” has many meanings, but to most analysts it means a 10%-plus decline from the high.
Moving forward, fourth-quarter earnings season will officially get underway with JPMorgan Chase & Co. (NYSE: JPM) reporting this morning before trading opens – expectations are bearish and Stock Options Made Easy (S.O.M.E.) members are already well positioned to benefit from this.
Intel Corporation (NASDAQ: INTC) is next with its post-market report in the afternoon – and again S.O.M.E. members are prepared.
Friday will see Wells Fargo, Citigroup Inc (NYSE: C), PNC and US Bancorp report earnings – S.O.M.E. members are already set-up with Citigroup and will likely be following up on a couple of the others as the day progresses.
Looking at the positive side of the market meltdown can be beneficial in helping provide market courage to move forward – panic is certainly in the air as it appears that traders and investors, alike, are selling first and asking questions later – causing a very quick and violent market sell-off reaction – which is actually good – over and done with, now let’s move on.
Also, a sensible sell-off can be ultimately healthy for the market – providing a decent investment environment that is fairly priced and producing a balance and stability – which wasn’t apparent when the Fed held the reins. This atmosphere also gives an interest to those investors, who have been sitting on the sidelines, to jump back in.
Institutional buyers should also becoming very interested in the oversold stocks – such as the so-called FANG stocks — Facebook Inc (FB), Amazon.com, Inc. (AMZN), Netflix, Inc. (NFLX) and Google, now going by Alphabet Inc (GOOGL, GOOG) — which suffered some major losses yesterday – and it is likely that this could occur before the end of the week.
So, keep your cash ready, bolster your trading courage, and be prepared to dive-in at the most appropriate opportunity available!
Best of Trading,
Director of Stock Options Made Easy
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