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4 Reasons Why I Am Uneasy About Stocks

The S&P 500 climbed to its third highest close in history in eager anticipation of Q1 earnings. Making new highs should be a good thing, but why am I still so uneasy?

•  Soft Economic Reports: Last week provided a Royal Flush of 5 soft economic reports including services, manufacturing and, most importantly, jobs.

•  Every Bull Must Rest: The market is up 10% year to date. Yet earnings growth will only be in the mid-single digits. Yes, stocks can go up by more than earnings growth as long as PE's expand. But there is only so much elasticity in that equation.

•  History Repeating Itself: In 2010, 2011 and 2012 the market raged higher up til April earnings season only to get thwarted. And here we are in April 2013 sitting on a fat 10% gain. It is eerily too similar to the recent past.

•  Large Caps Leading the Way: That is not a positive sign. Rather it says investors are more interested in safety than risk taking. That is often a harbinger of a bearish turn on the way.

This is my short term view of a consolidation or modest correction in the midst of a long term bull rally. Get ready to buy on forthcoming dips.

Featured Commentaries:

•  Get Ready To Be Surprised This Earnings Season

•  Airline Stocks: The Good, the Bad, the Ugly

•  How the Buyback ETF Keeps Beating SPY

•  This Week's Value Stocks


Steve Reitmeister

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Zacks Investment Research

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Bull & Bear of the Day

Zacks Rank #1 Strong Buy

DR Horton (DHI)

It's not too late to buy the homebuilders. This Zacks Rank #1 (Strong Buy) will see double digit earnings growth this year.


Zacks Rank #5 Strong Sell

TripAdvisor (TRIP)

2013 appears to be a transitional year for the Internet travel giant with just mid-single digit earnings growth expected.

Stock Picking Strategies

What's Keeping Bulls Awake at Night?  ››

Hotels & Lodging Stock Outlook - April 2013  ››

Market Eyes Up Earnings Season  ››

Funds Commentary

Top 5 Zacks #1 Ranked High Yield Mutual Funds  ››

Big Gains in Greece ETF, Can It Last?  ››

Is the Tech ETF Signaling Trouble Ahead?  ››

Options Strategies

Buying Puts to Protect Profits and Hedge Risk  ››

Video Reports

Roundtable Top Picks for the Week of Apr. 8th

Ideas for Consumer Discretionary, Insurance and an Oil Equipment Maker. Opportunities covered include Allstate (ALL), First Trust Consumer Discretionary Fund (FXD) and National Oilwell Varco (NOV).

Market Eyes Up Earnings Season

Zacks experts weigh in on possible effect Q1 earnings season may have on the market.

This week's value stocks Apr 9, 2013: (TAL) (RKT)

Value stock strategist, Tracey Ryniec, discusses TAL International (TAL) and Rock-Tenn (RKT).


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