The End Of QE
Warren Bevan | Oct 30, 2014 01:34AM ET
“The investor’s chief problem-and even his worst enemy is likely to be himself.” -Peter Lynch.
A bit of a rest day after Tuesday’s nice breakout. We are still in great shape and dips should be bought as long as the SPDR S&P 500 (ARCA:SPY) remains above the 50 day moving average at 196.44.
Many stocks also took a rest and several biotech and healthcare stocks that have been on fire lately are finally resting and will give us new buy points within a week or two.
QE is now done as we know it and markets seem to be fine with that since it was no real surprise.
SPY is fine here but I am focused on leading stocks, not trading the indexes. Even with the Fed news yesterday, action was pretty subdued which is rare.
Usually we see large swings up and down before a direction is determined. I’m not sure what, if anything, to make of it.
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