Keith Springer Appears in MarketWatch Article, Wall Street may rebound on earnings

Jan. 31, 2011 - PRLog -- “We’re severely overbought and we’ve been looking for an excuse to take money off the table, so I don’t think this correction will go on more than 3% or 4%, barring a nuclear catastrophe,” said Keith Springer, president of Springer Financial Advisors in Sacramento, CA.

Springer and some other analysts played down the impact of the political unrest on the U.S. stock market, saying Wall Street had been on the prowl for a reason to reverse course, and therefore pounced on the news from overseas.

For Springer, Wall Street’s focus remains on earnings, and its underlying strength is derived from the Federal Reserve’s quantitative easing and expectations that it would continue, saying “the market is addicted to quantitative easing like a user is to crack, and the Fed keeps throwing more crack at this market.”

On Thursday, weekly data showing a rise in claims for initial unemployment benefits “should have sent the market tumbling, but the market only cares about earnings right now,” said Springer to illustrate his point.

Friday’s market slide will prove to be a “little bump in the road, as earnings continue to be strong,” he added.

To view more print and live media interviews with Keith, visit www.KeithSpringer.com and click the “Keith in the Media” link, email Keith@KeithSpringer.com or call (916) 925-8900.

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About Springer Financial Advisors: Keith Springer is a financial planner, a market technician, a financial writer, founder of Top Down Tactical™ and President and founder of Springer Financial Advisors in Sacramento CA, a SEC Registered Investment Advisor. He has developed a proprietary process for successfully building tax-efficient and retirement portfolios and has been providing specialty wealth management services for over 25 years.