SAN FRANCISCO (KRON) – On today’s edition of Rob Black’s Winners and Losers, our financial expert Rob Black and KRON 4’s Mark Danon talk about the problem with stocks, flood insurance and Fitbit.
U.S. stocks opened sharply lower on Wednesday, with the Dow industrials dropping more than 250 basis points after the opening bell, as geopolitical concerns overseas weighed on risk sentiment. North Korea’s announcement that it had successfully detonated a hydrogen bomb late Tuesday rattled markets, while a continuing retreat in oil prices pulled down the energy sector.
The market is not oversold here – at all. One problem with seeing the market as oversold is that 40 percent of the stocks he tracks are above their average closing price over the past 50 sessions, and “you tend to get oversold conditions when that number’s less than 20.
The Federal Emergency Management Agency (FEMA) today released new data on National Flood Insurance Program (NFIP) Policies, showing an increase of more than 20,000 new NFIP Policies written in California during the month of November 2015.