Back to top

View the PFP Archive

ZACKS
Highest Close Yet. Now What?

Tuesday provided mixed economic news, yet stocks still continued their march towards the all-time highs at 1565. At the close we were an eye lash away at 1563.77.

When I say mixed economic news, there was actually no good news. Durable Goods minus the volatile transportation index was actually down -0.5% vs. +0.7% estimate. And Consumer Confidence plummeted to 59.7 from a prior reading of 69.6. This coincides with a similarly large drop in the last reading of the Consumer Sentiment report.

Why is that relevant?

I am still confident that the 4 year bull rally isn’t over yet. However, Tuesday’s action gives me a sneaky feeling that after touching 1565, it may be the last gasp of this leg of the rally. Meaning we may not make it up to 1600 before the next correction.

Don't put that in stone just yet. Let's just say that the odds have increased that this is the way it may unfold. For long term investors, it should have little effect as you guys should just stay focused on the long term positive trend. However, traders may consider taking some profits sooner than later. And then buying back again on future dips.

Featured Commentaries:

•  This Week's Value Stocks

•  Screen of the Week

•  Top 5 Zacks #1 Ranked Growth Mutual Funds

•  Business Services Stock Outlook - Mar 2013

Best,

Steve Reitmeister

Executive VP - Zacks.com

Zacks Investment Research

Follow Us:  

Sponsor

The One Retirement Plan Obama Can't Touch

If you've already retired, or want to retire soon, I urge you to watch this video presentation before we have to pull it down.

This "Secret $200 Retirement Blueprint" shows you step-by-step how to grow a monster-sized nest egg with a little time and a tiny grubstake.

Click here to see how.

Bull & Bear of the Day

Zacks Rank #1 Strong Buy

Cracker Barrel (CBRL)

One activist investor turned down a $70 million dollar payout to stay in this stock; should you join him?

 

Zacks Rank #5 Strong Sell

Fresh Delmonte (FDP)

Delmonte recently sold a large part of their business for $1.7 billion. Even with that large cash infusion, it might not be the best time to buy; find out why...


Stock Picking Strategies

Ahead of Wall Street  ››

4 Stocks with Rapidly Growing Dividends  ››

Roundtable Top Picks for the Week of Mar. 25th  ››


Funds Commentary

Best Performing Mutual Funds Year to Date  ››

3 Commodity ETFs Still Going Higher  ››

Has the Euro ETF Bottomed Out?  ››


Options Strategies

Option Premiums are Made of Only These Two Things  ››


Video Reports

All Market Arrows Still Pointing Higher

Find out why our strategists are still looking for the stock market to go higher.

Two Sides of Wall Street

The Sell-side and the Buy-side on Wall Street Share Views in Common and Have Their Differences. What are They?

This Week's Growth & Income Stocks: (M) (UNS)

Growth & Income Stock Strategist, Todd Bunton, highlights Macy's (M) and UNS Energy (UNS) on March 13, 2013.

Sponsor

What's Today's Top Rated Mutual Fund?

Use the Zacks Mutual Fund Rank, a quantitative ratings system designed to help you find the best funds to beat the market. See which ones to buy, which to sell and track your favorite mutual fund family.

Get started now>>


Manage Your Newsletter Subscriptions

Update Preferences         Update Your Profile         Unsubscribe         Feedback         Send to a Friend
 

This free resource is being sent by Zacks.com to our subscribers. We look for investment resources and inform you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer

Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable.

All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, brokerage, market making or asset management activities of any securities. Visit www.zacks.com/performance for information about the performance numbers displayed in this press release.

Zacks Emails

If you would prefer to not receive future profit-producing emails from Zacks.com the primary purpose of which is the commercial advertisement or promotion of a commercial product or service, then please click here and confirm your request. If you have trouble with the unsubscribe link, please email support@zacks.com.

Zacks Investment Research, Inc.
111 N. Canal St., Suite 1101
Chicago, Illinois 60606