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Afternoon Note

Buyers Emerge Ahead Of Weekend

By Charles Payne, CEO & Principal Analyst
9/10/2021 1:29 PM

Right now, I must say I'm very impressed with the way the market is acting.  The failed rally was a good reason for investors to pack it in, and those worried about recent action to pull the ripcord.  Instead, buyers have emerged ahead of the weekend.  The outcome of the session is in doubt, but the resolve is there and encouraging.

Of course, light volume also skews the action. But if we rally into the close, that would be a statement worth noting. 

I'm really loving the action in Materials, led by Freeport (FCX), which actually caught a Wall Street downgrade this morning. The XLB (Materials ETF) is in a cup and handle formation and makes a huge breakout with close above 86.50.

XLB

Reopening stocks also act pretty good - at some point, the trading bounces will morph into something more sustainable. But as we see Delta cases decline, there could be major investable breakouts.

Have a great weekend. 


Comments
I just wanted to say "CHARLES PAYNE UNSTOPABLE PROSPERTY" is awesome advice. I signed up for your full investment training, I personally pulled out but totally support your program & recommend it to all. I am 83 years old & have found myself in (BOB BRINKER'S) "Land of critical mass" I chart Mutual Funds & ETFs & do to my age I found I can take less $$$ with more slacking, retired with an eye on what's happening now. I wish I had your teaching in my early years of mistakes. Charles, you & your principals are a dream come true! Keep up the great work! I'm a total fan of "Making Money with Charles Payne" Thanks for your informative teachings.

Kenneth Charles Spaeth on 9/10/2021 2:08:17 PM
T.I.N.A. you can either have your cash sit idle losing 5-8% or put it into something that will appreciate. As long as the monster congressional bills are held at bay we should do well.
The plandemic is over. The only thing I would love a more in-depth analysis on is .. why is it so hard to restart our supply chains?

Ken Knight on 9/10/2021 3:47:45 PM
 

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