business newsMinyanville's T3 Weekly Recap: Stocks Sag to Weekly Loss
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T3Live.com Sep 21, 2012 5:00 pm
After two explosive weeks to the upside, it is healthy for the market to rest and digest at upper levels.
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Stocks faded into the close Friday and for the first time in September finished in negative territory for the week. After two explosive weeks to the upside, sparked by central banking actions from the ECB and US Fed, it is healthy for the market to rest and digest at upper levels. Bears could hardly get much traction all week; on a macro level, there is nothing much for bulls to be concerned about.
The fact that losses were contained this week is even more promising considering the global headlines. The Middle East has been in turmoil, talk of the fiscal cliff is growing louder, and the economic data stream remains weak. However, with central bankers all over the world easing monetary policy, asset prices looks set to continue higher.
A host of stocks raised dividends this week, including nine in the S&P 500. The list includes: McDonald's (NYSE:MCD), Covidien (NYSE:COV), Texas Instruments (NYSE:TXN), Yum Brands (NYSE:YUM), ConAgra (NYSE:CAG), Microsoft (NASDAQ:MSFT), and Fifth Third Bancorp (NASDAQ:FITB).
Many short-term traders sat out the trading day today ahead of quadruple witching, but longer-term swing traders had little reason to exit positions. After a long run in the market over the last few months, it's never a bad idea to take some profits and wait for lower prices to re-enter size, but stay the course with this rally.
DISCLOSURES: Marc Sperling is long AAPL, FB, ZNGA, MJN, MCP, LNKD, FAS, ESRX, ISRG, PXD, MSFT, LVS, AAPL calls, DNDN, FIO, MLNX, ANTH, ZNGA calls, MSFT calls, GRPN calls, DRYS, GRPN, MCP calls, FB calls, MCP calls, GMCR calls, AIG calls, RIMM calls, SPY puts, WLT calls, TSPT, YELP calls, SOL, MLNX calls, FIO calls, SODA calls, SHOS, AIG, YELP, EXPE calls, GOOG calls. Short SPY.
Check out T3Live.com's Virtual Trading Floor to follow these traders and their live portfolios on real-time throughout the day! Take a free trial.
Stocks faded into the close Friday and for the first time in September finished in negative territory for the week. After two explosive weeks to the upside, sparked by central banking actions from the ECB and US Fed, it is healthy for the market to rest and digest at upper levels. Bears could hardly get much traction all week; on a macro level, there is nothing much for bulls to be concerned about.
The fact that losses were contained this week is even more promising considering the global headlines. The Middle East has been in turmoil, talk of the fiscal cliff is growing louder, and the economic data stream remains weak. However, with central bankers all over the world easing monetary policy, asset prices looks set to continue higher.
A host of stocks raised dividends this week, including nine in the S&P 500. The list includes: McDonald's (NYSE:MCD), Covidien (NYSE:COV), Texas Instruments (NYSE:TXN), Yum Brands (NYSE:YUM), ConAgra (NYSE:CAG), Microsoft (NASDAQ:MSFT), and Fifth Third Bancorp (NASDAQ:FITB).
Many short-term traders sat out the trading day today ahead of quadruple witching, but longer-term swing traders had little reason to exit positions. After a long run in the market over the last few months, it's never a bad idea to take some profits and wait for lower prices to re-enter size, but stay the course with this rally.
DISCLOSURES: Marc Sperling is long AAPL, FB, ZNGA, MJN, MCP, LNKD, FAS, ESRX, ISRG, PXD, MSFT, LVS, AAPL calls, DNDN, FIO, MLNX, ANTH, ZNGA calls, MSFT calls, GRPN calls, DRYS, GRPN, MCP calls, FB calls, MCP calls, GMCR calls, AIG calls, RIMM calls, SPY puts, WLT calls, TSPT, YELP calls, SOL, MLNX calls, FIO calls, SODA calls, SHOS, AIG, YELP, EXPE calls, GOOG calls. Short SPY.
Check out T3Live.com's Virtual Trading Floor to follow these traders and their live portfolios on real-time throughout the day! Take a free trial.
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