VZ - Buying In Stocks On Pullback In Yields Rush To Buy Bitcoin | Benzinga
To gain an edge, this is what you need to know today.
Buying In Stocks
Please click here for a chart of iShares 7-10 Year Treasury Bond ETF (NASDAQ: IEF).
Note the following:
- The trendline on the chart shows that IEF has been in a downtrend. IEF being in a downtrend means that the yield on 10 year Treasuries has been rising. This has been putting pressure on the stock market. The chart shows that IEF bounced yesterday and is bouncing more today as yields pull back from the psychologically important 5% level.
- The pullback in yields is bringing in buyers.
- Two very important earnings for the stock market are Microsoft Corp (NASDAQ: MSFT) and Alphabet Inc Class C (NASDAQ: GOOG). Both report earnings after the market close.
- As is their pattern, the momo crowd is buying tech stocks ahead of the earnings on hope strategy.
- Prudent investors need to remember that hope is never a good strategy.
- For your buying, consider sticking to the proven system with an unrivaled track record that combines the six screens of the ZYX Change Method and the adaptive ZYX Asset Allocation Model with inputs in ten categories.
- There is also buying coming into the stock market on delays in Israeli invasion of Gaza.
- Bitcoin and speculative stocks tend to be correlated. Buying is coming into speculative stocks in sympathy with the surge in bitcoin. Please scroll down to see the bitcoin section.
- Earnings are in focus as 30% of S&P 500 earnings are being reported this week. Among the important companies reporting earnings, earnings from Coca-Cola Co (NYSE: KO), Verizon Communications Inc. (NYSE: VZ), Rtx Corp (NYSE: RTX), Dow Inc (NYSE: DOW), 3M Co (NYSE: MMM), Sherwin-Williams Co (NYSE: SHW), General Motors Co (NYSE: GM), and General Electric Co (NYSE: GE) are better than expected; earnings from HCA Healthcare Inc (NYSE: HCA), AGNC Investment Corp (NASDAQ: AGNC), Corning Incorporated (NYSE: GLW), Packaging Corp Of America (NYSE: