Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Two Ways: S&P Rally Overdone?

By

Strengthen your portfolio in good times and bad.

PrintPRINT

S&P 500 Rally: Believe the Hype?

After a 14% rally since the start of earnings season, analysts are beginning to get a little bearish on the S&P 500. According to Bloomberg, the benchmark index rose nearly 6% last week, wiping out much of 2009's losses. And so far, over 200 companies have risen at least 50% since the March low. But with most catalysts out of the way, many analysts think a move higher would be unrealistic and that US equities currently look fairly valued.

For a view from the other side, see Op-Ed: The Crisis is Over - For Now.

From the Bull Pen: Should equities pull back, bulls buying dips can look to Freeport-McMoRan (FCX). Support near $46 -- and gapfill near $44 -- could be opportunities for entry. Sell stops can be set below those levels.

From the Bear Cave: Bears can eye Baidu (BIDU). Professor Jeff Cooper mentioned this play Friday on the Buzz. A buy stop can be set 2% above entry.

Quick Check Around the World

Asian trading closed with the Hang Seng -1.74%, India -1.63%, Nikkei 0.20%, Shanghai -1.75% and Taiwan 0.97%.

Glancing towards Europe, we see the CAC -1.39%, DAX -0.56%, FTSE 0.75%

As of 8:10 AM EST, S&P Futures are trading -11 to 913.00, and Nasdaq futures are -16 to 1406.00.

A Look at Commodities

Over in commodities, crude oil is trading -1.50 to 57.13 while gold is -2.50 at 912.40 this morning. Silver is -0.145 to 13.81 and copper -7.00 to 207.70.

The dollar index is +0.2100 to 82.8500.

No economic events scheduled today but click here for the full trading radar.

Welcome back, Minyans. Good luck and have a great day!

Actionable ideas, instant analysis. Real-time from bell to bell.
Minyanville's Buzz & Banter - 14 day FREE trial

Position in BIDU

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE