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Tuesday brought two more pieces of solid economic news to bolster the bullish case for stocks. First was the Redbook weekly retail sales report. That continues to bounce from recent soft readings and is now sporting a healthy +3.8% year over year increase.
ISM Services bulked up to 55.4 from last month’s 54.4 effort. New Orders is still flexing muscle at 56.8 which should mean more good times ahead.
So why were stocks down on Tuesday?
There is not a 1 to 1 relationship between good economic data being served and stocks rising on the same day. That is because when the market is already in a bullish mood (and has been for over 4.5 years) then stock movements are not as closely connected to the news of the day.
Simply stated stocks will move up over time. Which specific days it goes up or down is the ongoing mystery. Some guys like to bet on that the same way they bet on football or other events with the odds of a coin toss.
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Zacks' unique low-risk approach to Aggressive Growth is turning up double-digit winners in only 1 to 3 months. The key is finding stealthy stocks that not only jump with positive earnings events but continue to grow after Wall Street notices them.
Only a few investors can be allowed to share this breakout strategy and its latest stocks. High demand caused us to close it to the public last July. It has re-opened briefly, but will close again this weekend.
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