Prediction I listen to/read a lot of market gurus each day... Not for guidance, but more because I usually want to be going in a different direction from most of them.
Some days I don't have a strong difference of opinion...
Today wasn't 1 of those days.
There were lots of predictions this morning that the market was likely to take off to the upside today. I felt the exact opposite based on the market's structure.
Guess who was right?
No, not me... the charts...
I say again... "Chart don't lie."
Along the lines or prediction... CNBC ran a story about Dow stocks that have historically done the best over 30 days when the 10 Year Treasury declined at least 20 basis points... The list that came back included Verizon [VZ], United Health [UNH], Coca Cola [KO], McDonald's [MCD] and Walmart [WMT].
Now before you go getting all excited... or worse, plunk down your cash, the names delivered 1.78%, 1.36%, 1.31%, 1.22% and 1% respectively... Not exactly rent money. |