MARKET-ALERT – Rumblings Up, Down, and Around Wall Street – Issue #415 dated January 8, 2017 – with Ray Dirks of RAYDIRKS Research and his team of securities analysts and money managers – in association with the internationally-followed Web Sites – www.CorporateProfile.com and www.CPreports.com, where Fashion meets Finance, and where Stocks meet Blonds.
Well, well, well…The first week of 2017 was an exciting one for the stock market in the United States as the Dow Jones Industrial Average virtually touched the 20,000 level on Friday, January 5, and all three major indexes reached new all-time highs.
Rumblings’ Top Ten Stocks for 2017 are already performing well in the new year, led by Aflac (AFL) and Hartford Financial Services (HIG) among the large companies and by Fusion (FSNN) among the smaller companies, and we’ll discuss these stocks later in this issue, but first – let’s quote from “The Trader” column in tomorrow’s Barron’s, The Financial and Business Weekly of Dow Jones, publisher of The Wall Street Journal, where the headline reads : No Cigar Yet: Dow Stops Short of 20,000.
The column begins: Multiple attempts were made on Mount Everest over a period of twenty-some years before Edmund Hilary and Tenzing Norgay summited its peak in 1953. Hopefully, it won’t take that long for the Dow Jones Industrial Average to reach 20,000.
Last Friday, the Dow came within 0.37 of a poiny of reaching that big round number , the closest it has come since Barron’s put the blue-chip benchmark on 20,000-watch on December 10. Lost amid all the will-it or won’t it was the fact that the Standard & Poor’s 500 index and the Nasdaq Composite closed at record highs last week, even as the Dow ultimately fell short.
The S&P 500 gained 1.7% to 2,276.98 last week, while the Nasdaq Composite climbed 2.6% to 5,521.06. The Dow Jones Industrial Average rose 201.29 points, or 1%, to to 19,963.80, its second highest close on record
Should we worry that the Dow faltered just as it seemed it would finally take 20,000 ? Probably not, says Sameer Samana, global quantitative strategist at Wells Fargo. The Dow has been making its attempt for only a few weeks, and its failure to break through has come after a 9.2% rally since November 4. If the market stays in a rut, he moght get worried. For now, Samana contends it’s “just a matter of time.”
And time appears to be on the market’s side. Even a “disappointing” payrolls report last Friday was unable to derail the stock market’s surge higher. Yes, the U.S. created 150,000 new jobs in December, fewer than the 175,000 predicted by economists. But the headlines miss didn’t take into account the upward revisions to previous months, which easily offset the previous shortfall. “We’re generating more jobs than there are people to fill them,” says Jonathan Golub, Chief U.S. Market Strategist at RBC. “It just feeds this,” he continues, “this” being the stock market’s rally, of course.
With payrolls out of the way, the market will be turning its attention to the start of earnings season, which gets under way this week with releases from Delta Air Lines , Bank of America, JPMorgan Chase, and Wells Fargo. And it is these earnings that will most likely determine whether the Dow Jones Industrial Average can climb above 20,000 or sputter out.
And now, as promised earlier in this issue of Rumblings, we’ll give our readers/investors an idea of what to look for in 2017 for Rumblings’ Top Ten Stocks of 2017 : Fusion (FSNN) up 400-800%, Bionic Labs (BNKL) up 300-400%, Biotricity (BTCY) up 300-400%, Oramed Pharmaceuticals (ORMP) up 200-300%, Pluristem Therapeutics (PSTI) up 200-300%, Aflac (AFL) up 30-50%, Avis Budget Rent-A-Car (CAR) up 25-45%, Hartford Financial Services (HIG) up 20-40%, Apple, Inc (AAPL) up 20-35%, Hertz International (HTZ) up 20-30%.
Rumblings suggests that readers/investors do their due diligence, consult with their investment advisers, and then purchase shares in one or more of the stocks listed above.
Rumblings also suggests that readers/investors place no more than 1% of the funds they devote to common stocks in any one security. It pays to diversify…!
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