By Adam Shell, USA TODAY, 28 July 2010
NEW YORK — Range-bound. Directionless. Stuck in a channel.
That's how most Wall Street analysts describe the stock market's pattern the past three months. During that period, stocks have been stuck in a "trading range," a tight price band with a well-defined bottom and top.
Too many mixed messages about the economy, too many upbeat headlines offset by downbeat news, and too many post-financial crisis uncertainties are blamed for stocks' inability to trend strongly in one direction.
The underlying message to buy-and-hold investors? After all the ups and downs, the market will end up at the level at which it started. And your portfolio won't have any profits to show.
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