Tuesday, October 28, 2014

NASDAQ bulls and bears continue jockeying around the Fed meeting

The bullish and bearish speculators seemed to settle on a tie on Monday, although most of my momentum stocks did take a hit as their momentum evaporated. Today futures are up moderately, suggesting that traders are seeking to tip the balance in this bull/bear standoff ahead of the Fed meeting. None of this jockeying really matters until we get a few days past the Fed meeting.
I'm still curious how the Alibaba (BABA) trend will shape up now that the stock is trading above it's IPO open. It's rising, but is that simply a short-term blip or the start of a longer trend.
Once again, Wall Street speculators are over-reacting to a quarterly report, this time for Twitter (TWTR). I'll buy more on the opening dip, and maybe even more if there is a further significant dip later in the day.
-- Jack Krupansky


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