Contrarian Value Ideas

[gfp927z]

Derf, ADM left a somewhat ambiguous candlestick today. It stayed above the 50 MA, so that's good, but looks like some heavy profit taking volume in the last hour. So might go either way tomorrow, probably a modest pause / pullback (a guess), but then more upside next week? Just guessing though. I'm not an experienced trader, but did spend a year subscribed to Stockcharts.com for their online 'chart school' (Art Hill), and had a good aptitude for it, but mainly just learned the basics and never really tried it much for active trading.

With the Fed meeting next Tues + Wed, I figure the market could be somewhat subdued until that's over. I used to call Powell 'Grumpy Jerome', but after the Fed's dovish pivot last Fall he has mellowed considerably. But if he senses the stock market getting overly buoyant, he might go back toward the grumpy side, at least verbally.

But based on Nick Timiraos' articles (link below), the Fed clearly plans to start easing, the only question being when. June is most likely, but subject to the ongoing data. Timiraos is well known on Wall Street as the designated Fed mouthpiece, who is tasked with leaking Fed policy guidance to Wall Street so there are fewer surprises. The guidance is contained in his headlines, so it isn't really necessary to subscribe to WSJ for the full articles -

Nick Timiraos - Chief Economics Correspondent at the Wall Street Journal -

https://www.wsj.com/news/author/nick-timiraos



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