Financial expert Mark McMillan talks about the Fed’s surprise move and what that means for investors.
“The major index ETFs opened lower but then diverged in a choppy session that saw a slow progression higher through the day. The Semiconductor Index (SOX 342.52 +0.98) dove lower in the opening minutes then bounced only to dive down again about an hour later. That would be the deepest leg down but there was still plenty of choppy trading to go and the SOX didn’t move into positive territory until there was a bit more than an hour left in the session. The QQQQs and Russell-2000 were most affected by the SOX gyrations and followed its pattern to some degree. The Dow and S&P-500 shook off most of those gyrations to proceed more steadily higher through the day and moved into positive territory after the opening minutes and only dipped into negative territory briefly about an hour after that. From that point on, both indexes stayed positive. The Regional- (KRE 23.95 +0.23) and Diversified- (KBE 22.85 +0.02) Bank Indexes finished modestly higher. The 20+ year Lehman Bond (TLT 88.97 -0.37) continued its dive lower marching down its lower Bollinger Band and is in a downtrend state. Volume on the NYSE was anemic trading only 960k shares. Volume at the NASDAQ was light at 2.040B shares…”
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About Mark McMillan:
Mark McMillan entered the world of finance to solve the problem of why and more importantly when the markets will go up and down. He developed a behavioral model to understand what is really happening in the markets and uses it to time the markets. He also uses fundamental research to determine valuations for companies. He combines the behavioral and value strategies along with macro-economic analysis to build a portfolio with both long term and tactical positions.
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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