Crew Capital Management Thoughts on Investment

Welcome to the Crew Capital Management Thoughts on Investment blog. At Crew Capital, investment education is key to how we work with our clients. We hope our conversation and analysis entice you to think further on your investment strategies and planning. For further discussion, please contact us at rjung@crewcapital.com

Thank you!
Robert F. Jung, CFA CPA*

*CPA inactve

Monday, January 5, 2009

Breaking Through Resistance

Stock prices seem to have stabilized somewhat since the Fed lowered its target for the Fed Funds rate to 0.25%-0.00%, the Obama Administration began to detail plans for a fiscal stimulus package and Detroit automakers convinced Congress to give them at least three more months. After the rally on January 2, the S&P 500 actually moved above the resistance established by the 50-day moving average. From a technical standpoint, the next major test will be the 100-day moving average, which is currently 1028. Before stocks can hit that threshold, though, the fundamentals will need to show improvement. While we think much of the bad news regarding 4Q results has been priced into the market, investors may not yet be anticipating the challenges that the first quarter will bring, despite government intervention. We look for the S&P 500 to trade in a range of 800-1000 for much of the first half, until it becomes clear that the economy is – or isn’t – gaining traction.

Argus Research Market Watch, January 5, 2009
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