"THAT'S JUST MY OPINION" - VOL. - 33
I must apologize for the wrong VOL. #'s on the last 2 Blogs - I marked them as Vol. 21 & Vol. 22 - when they should have been Vol. 31 and Vol. 32. I was so anxious to get out my message to you all - that I was not paying attention to the correct numbers!
Well, the DOW has fallen around 6% so far in 2014! We have to realize how fast money can move out of hot sectors - like the emerging markets - in a matter of days - causing markets to change in a hurry!!!
This downdraft in the US markets is now OVER DONE!!!!!
You have traders getting out of US stocks that have made them a lot of money last year! That means there is a lot of cash sitting on the sidelines!! - And you have a lot of speculators going short stocks - this makes for the perfect storm FOR A 700 POINT RALLY IN THE DOW - IN A SHORT PERIOD OF TIME!!!
I can see the 10 year bond yield spike back to at least 2.80% in a short period of time.
Remember it was over 3% not that long ago!!! - Then the yield sank to around 2.6% - during this DOW sell-off!!
Please don't get me wrong - NO ONE CAN PREDICT A BOTTOM OR A TOP - NO ONE!!!!
But WE ARE CLOSER TO A BOTTOM for the near future!!!!
"THAT'S JUST MY OPINION"
NOW - LET'S LOOK AT SOME STOCKS MY WIFE AND SON OWN - THAT ARE WAY OVERSOLD!!!!!!!!!!!!!!!!!!!!!
JCI
AIG - Net asset value is $60 a share and is trading under $46
RIG - Is way oversold - It's Relative Strength Index is 20.41 on a daily basis!!!!!!
FDML
CHK
All of these stocks are trading at bargain prices!!!!
I am added to these stocks as we speak!
"THAT'S JUST MY OPINION"
Stay tuned!!!
Thank You;
Len Dwelle
lendwelle@hotmail.com
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