Professor’s Comments October 29, 2013 Update

Posted by OMS  at October 29th, 2013

With the Dow up over 100 points, it appears that we’re getting the Big Move that was predicted by Friday’s (and Thursday’s ) small change in the A-D oscillator.

In this morning’s Comments I mentioned that the end of the month is usually a very bullish period.  So the big up move is not much of a surprise.  But the crazy thing about the Big Move is that it is NOT impacting most of the stocks that have reached their targets. Many are down today!

For example, APPL, which had a target near the 530 level, is down almost 3 points. The energy stocks are only up modestly.  Royal Gold is down almost 1.7 points as expected.

Right now the volume is running a bit low in the markets, so it likely means that the kids are playing on the street.  And when the kids play, a lot of strange things can happen. All this could all change tomorrow, after the Fed announcement.

Meanwhile I’m still content to be on the sidelines.

TWID,

h

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