Market strategist George Brooks reviews what the markets have been doing this week and explains why the ball’s in the institutional investors’ court.
“Yesterday, I said we should give the market another day or two to conclude whether we are still in a “technical” correction, or whether Friday’s good GDP report ( and Monday’s ISM report ) would trigger enough institutional buying to turn the market around.
Yesterday’s market action was impressive, but not conclusive. At this point, it’s up to the institutions. What do they want ? An economic recovery absent of continued government stimulus and the kind of higher interest rates that accompany a recovery, or a weak economy with government stimulus in place ?...”
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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:
Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.
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