Up until early afternoon Monday, the stock market was performing very well, recovering much of the nearly 1.00% loss recorded during Friday’s trading session. However, as the dollar began rebounding, it sent commodity prices (oil, natural gas, energy, ag) lower and the overall market followed, ending near the lows on the day. Evidently, and not surprisingly, the stock market likes a weak dollar as it makes exports to other countries whose economies might be performing better than ours, more attractive, on a price basis. That said, we don’t believe that this is the end of the cyclical rally in the stock market, but as we have been saying for quite some time, perhaps a pause to refresh, a consolidation. Watch your portfolios. See what gets hit the most. Put some of your cash to work should this consolidation continue.
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Commentary for October 27th, 2009
Tuesday, October 27th, 2009
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Any specific stocks named in this presentation may not be representative of current or future investments in the portfolio to which they belong. You should not assume that investments in the securities identified were or will be profitable. We will furnish, upon your request, a list of all securities purchased, sold, or held in the portfolio during the twelve months preceding the date of this presentation.
Please note that all data is for general information purposes only and not meant as specific recommendations. The opinions of the authors are not a recommendation to buy or sell the stock, bond market or any security contained therein. Securities contain risks and fluctuations in principal will occur. Research any investment thoroughly prior to committing money or consult with your financial advisor. Please note that Fagan Associates, Inc or related persons buy or sell for itself securities that it also recommends to clients. Consult with your financial advisor prior to making any changes to your portfolio.
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