LANGE FINANCIAL SERVICES MARKET UPDATE September 3, 2013. 9:00PM
Other than long term bulls, short term sentiment is generally cautious to bearish. The negative history of down September’s is well documented and widely publicized. However, the market is now down over 800 DOW points or about 5% from the August 2nd high discounting much of the problems. Further, the Dow is in the area of support specifically between 14,550 and14,650. Some of the issues facing investors in the period immediately ahead include:
1. Timing of the FED Tapering stimulus.
2. Threat of attack on Syria and fear of escalation.
3. Debt limit controversy.
4. Need for a budget resolution.
5. A slumping housing market.
6. Rising interest rates.
7. Costs and impact of Obamacare.
8. World economic conditions.
9. Concern on U.S. macro economic data in the months ahead.
However, despite these concerns, we are tempering our negative posture of the last month as we awaited the inevitable correction.
Prospects for the year ahead seem promising, especially in areas enjoying growth as we get past the aforementioned concerns.
We are recommending the following stocks to be accumulated currently for aggressive investors during periods of weakness. These companies are:
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Category: Lange Financial Services