SLOW START
Markets open slightly higher with about 900 more winning stocks than losers. Best sectors include homies, consumers, defense, banks and brokers; weakest include AAPL, YHOO, metals, retailers, airlines and drugs.
GOOG is trading higher by 5 on the deal with News corp and if it fades later in the day, we may have a clue of future market direction.
My guess is still that the market has already priced in a fed pause and bulls have bought ahead of the news.
Shockingly, I expect slow trading this morning as traders await Big Ben.
posted by DAVID at
10:01 AM
2 Comments:
You said: "market has already priced in a fed pause."
That does not mean much. The big banks and brokers who run the fed already know the outcome of the fed policy meeting. They will move the market based on what we are waiting for and they already know.
Then buy all the banks and brokers. I would think however that they would be trading at much higher prices since they already know the future.
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