Tag Archives: American Century Target Maturities Trust
It has been a tough couple of days in the stock market. Only a week ago, Wall Street’s talking heads were toasting a new record high on the blue chip Standard & Poor’s 500 index. Today, the market (by that same measure) plummeted to a three-month low.
Gridlock! Whether you’re delighted or dismayed by the results of the midterm election, I’ve got encouraging news for you—a divided government in Washington isn’t such a bad thing for your investments. This month, I’ll show you how you can take advantage of the new paths to profit that the election has opened up. In fact, I expect gains of 40%-60% in the next two years for my top picks. December also marks the fourth anniversary of our Incredible Dividend Machine. This nifty portfolio has beaten the overall stock market by such a huge margin it’s almost amusing. In our latest lineup, I’m swapping two of the members of the Machine with new names that I’m confident will keep the streak going. Finally, the holiday season is the perfect time to do some housecleaning, and if you’re sitting on a mutual fund that has outlived its usefulness, raise a glass of holiday cheer and toast it good-bye. Then replace it with one of my four best funds for your specific needs.
Coming soon, a great buying opportunity. Stock prices backed off modestly this week, despite today’s rally, with the blue chip S&P 500 actually closing a fraction of a percent lower than it did nine Fridays ago, in early January. Such a narrow range for the market, over such an extended period, is very rare.
Worn out! Stock prices idled in neutral again this week, with the blue chip S&P 500 unable, once again, to break above its January 11 high on a closing basis. From where we sit, it looks as if the buyers are now almost totally worn out.
Yes, I know everybody else on Wall Street is telling you to buy stocks. But there will be plenty of chances, later this year, to buy most stocks at better prices than you can obtain right now.
I’m raising my near-term targets for the stock market, ever so slightly. After the orderly pullback we’ve had in the past two days, I think there’s a good chance the S&P 500 index may claw its way to the 1270-1295 region sometime in December. (As it happens, that’s precisely the goal I suggested way back in our January issue. All the fine-tuning since was unnecessary!)
Bond prices jumped today, with the longest-dated Treasuries tacking on almost a full point. While I’m not ready quite yet to call an end to the sell-off that began way back in early June, today’s action was an important step in the bottoming process.
This is Richard Band with the Profitable Investing Hotline for Friday, October 14. Relief! Stock prices got dramatically oversold yesterday, and the best proof of it was today’s action: Despite a government report showing the biggest jump for consumer prices in more than 25 years, Wall Street put on a nice relief rally.