Category: General Market NewsSort
Why is solar depressed in the US, and why isn't Wall Street promoting these companies? There hasn't been a growth story like this to get excited about for decades. Over the last 10 years GE spent $178M furthering their agenda on Capitol Hill, which makes them the largest single corporate lobbying entity. The saying goes, "What's good for Big Oil..."
Post Election Year Market Returns Somewhat Muted
In general, post election year returns for the Dow Jones Industrial Average have been somewhat muted. On average, the best returns in the post election year have occurred from late March through early August. Chart of the Day notes that the post election year returns tend to be weaker...
Monsanto had a big day on earnings news and people were clamoring to jump on board. Donald Rumsfeld along with four Bush cabinet members with MON ties were also smiling. Prime example of a dangerous Wall Street philosophy: "Hey, we're making tons of money so we don't care about the consequences of what we're doing.
We formed some possible reversal signals in the broad market today. The DJIA and SPX both formed hammers while the COMP formed a bullish piercing pattern. Both the DJIA and SPX bounced off their 50-day MA and the COMP bounced off it's 20-day MA. In addition, these bounces keep the uptrends in tact. Keep in mind that they all have the 20, 30 & 50-day MA's right below their 50% retracement level.