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The markets continue to show amazing resiliency. One day sell events seem to occur every few weeks but are negated within one or two days, then the market surges higher. The Federal Reserve continues to keep amazing pressure on the markets to the upside using QE-2. This $600 billion is being used as POMO (permanent open market operations) daily. In this manner, as long as volume stays light, the Federal Reserve, through the banks, can keep the markets moving higher. This is very artificial, and the risk of another flash crash increases daily, but they could push the markets up for months more before it happens.
Major stocks are performing well today on this broad based rally. Apple Inc. (NASDAQ:AAPL) has moved above the $350.00 level. It is now trading at $352.80, +6.30 (+1.82%). Exxon Mobil Corporation (NYSE:XOM) is shooting higher again and International Business Machines Corp. (NYSE:IBM) is just under the $165.00 level.
While the markets remain extended with no sign of anything more than a one day fall every few weeks, we must respect the power of the Federal Reserve. They have the power as long as volume stays light to keep the markets going higher. Today we are seeing that. To gain more market insight, analysis, swing trades and education, join the Research Center. Take a free trial today.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
CMC, which offers spread betting and contracts for difference, delisted trading in the AIM index with no new positions opened via its trading platform on AIM shares after Jan. 21. Any AIM bets by its clients that remain open will be closed out at the closing price on Feb. 11.
CMC's decision follows its move last year to stop trading in stocks below a certain market capitalisation and reflects the firm's switch to a new technology platform and its focus on core liquid markets.
