kaltbaum premarket

Last night, I told you market was short term oversold. Well…today’s open may cure it as futures up decently.

 

But dont get all bullish. There has been some near term technical damage done. I do not think we have entered a bear…just that we have entered headwinds territory…and must watch to see if other major indices break below the 50 day/10 week.

 

As usual, crooked analysts at work today. Two analysts coincidentally raise target on GOOGLE. That’s them making up a new target to defend the stock. They already have a strong buy so in order to goose stock, one raises target to 880 and the other to 850. Love these people.

 

I will not get too much information from today’s action. A bounce was due and a bounce we get. Yes…I recognize the Fed is printing $40 billion/month plus operation twist..and that’s why it is tough to get too bearish. More money chasing a fixed pool of assets usually makes those asset prices rise.