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Market Commentary

Buyers Nibbling, Sellers Exhausted?
By Charles Payne, CEO & Principal Analyst
3/27/2017 12:14 PM

The good news is the Dow and other large indices cut their losses in half for the session but the last hour of trading is more critical. I think the bias is still to the downside.  That being said, the orderly nature of the selling today and the last two weeks underscores a lack of panic even though the frustration is clear.

If the market turns higher today it would be a major victory and buy signal. 

I must admit the damage in financials has been particularly compelling including an array of downgrades including a ‘sell’ rating on Morgan Stanley this morning.  I get where some experts think bond yields are sending the wrong signals but I think they’re wrong- again.  Regulatory relief and lower taxes happen although not as fast as hoped (to a degree always unrealistic).  The Street loses its cool a lot faster than non-professionals. 

http://markets.money.cnn.com/services/api/chart/snapshot_chart_api.asp?symb=INDU

 


Comments
Spot on again! I couldn't agree more.

Reminds me of an old song, "If loving you is wrong, I don't want to be right" and may be accurate when considering just how much of this rally and for how long the so called "professionals" have missed it! IF according to them I am wrong, then I figure I am going to cry all the way to the bank. The worse they think of me the better I feel.

Ray Weldon on 3/27/2017 12:23:31 PM
without risk no reward i look at this selloff a huge discount to enter good quality stocks

tom busby on 3/27/2017 1:45:09 PM
 

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