Stock Traders Daily Discusses the November Lows: DIA, QQQQ, SPY
With the Market near its lows, investors are starting to worry again. However, with concern comes opportunity. In hindsight, we may all thank Obama for adding fuel to the fire.
LaJolla, CA (PRWEB) February 19, 2009 -- Obama Stifles the Market, but opportunities still exist. Analysis by Stock Traders Daily.
Economic troubles are not the only concern on Wall Street. Earnings and the Financial Sector are at the forefront too. In addition, President Obama is throwing curve balls, and the Street is not familiar with his pitching style. That adds salt to the wound.
Clearly, President Obama is not catering to Wall Street big wigs. Goldman Sachs, for example, is losing a political stronghold, something it has held for quite some time. However, coincidentally his efforts are hurting the same investors he is trying to protect, and that is reason for concern. A distain for Wall Street is one thing, but when it starts to affect 401ks and IRAs it becomes another.
According to Thomas Kee, President and CEO of Stock Traders Daily, all of the major indexes are down since Obama took office. Technology is outperforming, but the Markets are down and equity based portfolios are underwater.
The ETFs below represent the Dow, S&P 500, and the NASDAQ respectively:
| | - Diamonds Trust (AMEX: DIA): -12%
- SPDR Trust Series 1 (AMEX: SPY): -14%
- Powershares QQQ (AMEX: QQQQ): -4%
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The confusion surrounding the stimulus package and the bailout proposals further the apprehension. Now, not only does Wall Street question the economy, but investors are now questioning the viability of the proposed initiatives as well. Although Obama can turn a blind eye to Wall Street for a short while, when the people who voted him into office start to realize that they are losing money because of it he may have to start playing ball.
In any case, The November lows are here, and investors need a plan. A simple Strategic Plan with a proactive approach will suffice, according to Mr. Kee. He advises a conversion strategy using Market - based ETFs. The short side should not be neglected though. A conversion strategy requires a shift to short if support begins to break. This is the only way to stay on the right side of the curve, and ahead of the pack.
For details on proactive strategies which work in any Market environment visit Stock Traders Daily at http://www.stocktradersdaily.com
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