Stock Prices Grew Three Sizes That Day

For a few days it looked like Rudolf would not lead Santa's sleigh this year.  Yesterdays trading action, and today's exuberant follow through is telling investors they have nothing to fear.  Those patiently awaiting Santa's arrival were happy to hear Yellen's hoof prints on the rooftop yesterday, in a perfectly fitting reason why you never fight the FED.

The S&P 500 is back over the Abenomics trendline and just like that... everything is back to the way it should be.  Stocks moving higher, asset prices rising, corporations buying back stock, interest rates at record lows......

The $SPY is up some 3.4% since yesterday.

Stocks are putting in another wonderful V bottom, which has been the harbinger of bottoms since the lows in March 2009.

The FED meeting ended and what happened then...?

Well on Wall Street they say...

That stock prices grew three sizes that day...

And the minute the FED said to be patient and wait

Stocks started to rally... wasn't it great?

And they brought back the prices that were previously taken....

And she, she herself the Yellen ... even ate some bacon....

 

$RUSL and $CUBA were the top winners yesterday.   Continuation is the theme heading into weeks end.  Can stocks hold their gains?  The market remains one sharp candle away from new record high prices.  With the FED keeping rates low, corporations will continue to buy back stock.  Less supply and more demand equals higher prices.

Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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