Beverly Hills 2/18/2010 4:01:50 AM
News / Business

Market Moves Still Up to the Institutions

George Brooks' Brooksie's Market Blog, EQUITIES Magazine

Market strategist George Brooks talks about what the stock market is doing today and how the moves are still up to the institutions.

“Expect some resistance to the upside to appear beginning at DJIA 10,325 (S&P500: 1105), and it may be enough to reverse the market’s advance, dropping prices to DJIA 10,145 and S&P500 to 1082, before stabilizing.

What’s important is, institutions stepped in a little below DJIA 10,000, and are pressured to buy stocks even at higher prices. They have to ! That is what they get paid to do. Whether or not the market blows through resistance here and even goes to new 2010 highs depends on, not what is reported today, but WHAT THE BIG MONEY SEES WILL BE REPORTED A YEAR FROM NOW.

That is what motivated many of them to buy a year ago with the DJIA below 7,000. It’s tough for the individual investors to do, because they can’t risk looking beyond current bad news to load up at or near a market bottom, and don’t have enough money to average out their purchases if their timing is wrong…”

To continue reading this post and to read more of George Brooks’ Market Blog, click here.

 

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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