The old saying goes, Pigs get fat Hogs get slaughtered. I do find it a little ironic this morning, with the stock market seeing record highs day after day that Harley Davidson - stock ticker $HOG is getting slaughtered an ugly earnings report.
The pigs getting fat these days are the corporations themselves, who remain the biggest buyers in the market.
The market continues its historic move to the upside, amid a never seen before lack of volatility. Truly this morning's .2% move to the downside pre-market is some sort of anomaly.
and if we've learned anything since March 2009, it's that these dips are meant for buying. Every single dip since the Great Cockaroach Famine in 7,600 B.C. has been a tremendous buying opportunity for market participants. These days it's just buy en ETF and head to the beach. The Central Banks have got your back. Heck the Japanese in a few more years are set to own nearly 100% of the free trading stock of one of their publicly traded corporations. That's after have a 71% stake in the Japanese ETF market. So yeah... If he Central Banks are buying, you can't go wrong in this 'market'.
If the Central Banks are being pigs at record high prices, the slaughter is clearly not coming any time soon...
With the opening bell coming in a few minutes here is a quick run down of those ETF's:
$SPY topside of bullish channel:
$IWM still consolidating from post-election move with sharp rally to $145+ in the cards
$QQQ the relentless rally looks to at least take a breather:
Earnings season is picking up. $NFLX is soaring today, IBM comes after the bell, more banks set to report, and the week ends with the likes of MSFT.
Have a great day and see you in the chat room!