Stock analyst George Brooks talks about DIJA and where your money is going.
“As expected, the market rallied after a brief selloff, then ran into a wall, between DJIA 10,250 and 10,295, before erasing its gain for the day.
Whatever strength the market was able to muster as a result of a better-than-expected Consumer Confidence report, a sustained upmove was not in the offing, confirming my belief this is a “technical” correction that will just have to run its course.
While some indicators are beginning to suggest an oversold condition, I think we can see lower prices before a meaningful rebound. Nevertheless, let me remind you again, there are trillions of dollars in the hands of money managers, many of whom have been waiting for a decline in prices to buy..”
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About George Brooks:
George Brooks started in the investment business as a stock broker in 1962 and quickly gravitated to the research end of the business, first undertaking his own vast study of fundamental and technical analysis, then taking a position as director of stock market and economic studies for a leading money manager and publisher. In 1973, he formed his own firm to provide daily market timing and stock selections for two regional NYSE member firms, as well as special situation research and written analysis for leading investment advisory publications.
About EQUITIES:
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