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Stocks were back on the upward path Tuesday pressing towards new all-time highs. The Russell 2000 actually did accomplish that feat while the S&P came up a notch short. That is because the rotation out of safe large caps to growthier small caps is still in full swing.
The rest of the week is fairly quiet on the economic front besides Consumer Sentiment on Friday. Given the impressive gains already found in other measures of consumer activity, there is little doubt that the report will be positive.
Investors are finding little to fear at this time. They even feel comfortable with the likely Fed rate hike on 12/14. It is so highly anticipated that it would be more detrimental to not raise rates at this point.
If you want something to fear, then here it is:
Lack of fear = complacency = breeding ground for the next tumble.
I am not saying that is the case now... or to start selling right away. Rather, I am saying that at a certain point, when everyone thinks that stocks can only go up...that's when they go down.
Indeed we will be ripe for profit taking down the road. I sense that will be closer to 2250-2300. For now the best plan is to be long stocks.
Best,
Steve Reitmeister
Executive Vice President, Zacks Investment Research
High-frequency traders (HFTs) scare investors into selling good stocks, then swoop in and buy just before the prices bounce back. This can be consistently and immensely profitable. One HFT had only a single losing day out of several hundred.
What if you could ride only the best of these unfairly pushed-down stocks – as they rebound for tremendous potential profit?
Zacks' Counterstrike program does just that, but only a limited number of investors can take part. Demand is high and your chance for access ends no later than Sunday, December 11.
Apple (AAPL) was rumored to produce fewer iPhones, Intel (INTC) announced the creation a new Auto unit and Amazon (AMZN) hosted a huge re:Invent conference even as the sector slumped in anticipation of Trump-inspired regulatory changes. Read More »
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Stocks were back on the upward path Tuesday pressing towards new all-time highs. The Russell 2000 actually did accomplish that feat while the S&P came up a notch short. That is because the rotation out of safe large caps to growthier small caps is still in full swing. 
