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The stock market has soared since the government shutdown ended and the debt ceiling was raised last week. Perhaps it flew a little too close to the sun. Stocks sold off on Wednesday, marking the first day that the S&P 500 was down since the clouds cleared up over Washington.
So why were stocks down on Wednesday?
There were a couple of disappointing earnings reports you could point your finger at [e.g. Caterpillar (CAT)], but in reality this earnings season has already been a bit of a disappointment. And the market has shown that it doesn't care too much about earnings right now as long as they're not terrible. So the better explanation is that after five straight days of gains, the market simply became overbought and was overdue for a day in the red. Modest selloffs like Wednesday are completely normal inside of a bull market.
While Q3 earnings season has been less than stellar so far, the "goldilocks" economic data (not too hot, not too cold), decreases the chances of the Fed tapering quantitative easing this year. And that, as we have seen, creates a bullish environment for stocks.
The rising tide of the bull market has lifted most boats, and there is a good chance that trend continues throughout the rest of 2013. Nonetheless, there are some strategies that have still managed to crush the bull market this year. Check out one of the market-doubling strategies in the article below:
Big in-the-know funds and pension plans try hard to keep others from spotting their key moves too soon. They need time to go all in, drive up the prices, and make big profits in any market condition.
Before now, you could only catch early hints of their moves if you had the time, will, and expertise to comb through obscure SEC filings. Today, a Zacks strategy serves them up to you at the first sniff so you can get aboard for the full profit ride. Since inception less than 1-1/2 years ago, this approach has virtually doubled the S&P 500 and gained more than +60%.
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.
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