U.S. Stocks Gain on M&A
I always love how the media always has to have a reason why stocks are going up or down. This morning it is M&A activity. Stocks go up and down because there are either more buyers than sellers or more sellers than buyers. Stuff like this is just noise that distracts you from what is really going on. What is really going on is the trend of the market---long term, intermediate term, and short term. Your time frame depends on what type of investor you are. We look at the intermediate term trend, which is down.