“How about a surprisingly good Q4 GDP report (+5.7%), which beats most projections handily.
Over the past week, I have felt the market would have to reach a level where some of the managers of the trillions of dollars on the sidelines would say, “ENOUGH !, this is the opportunity I hoped would come to let me in at lower prices - I’m buying.”
I expected that would occur a shade below DJIA 9,900, worst case 9,500.
However, the big question now is, does the GDP report trump a technical correction, prompting money managers to scramble to buy stocks before another big hitter runs their prices up ?...”
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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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