Archive for July, 2010
Lack of Economic News and Decent Euro Bond Auctions Should Float the Market This Week.
This week, the economic news is fairly light and that should bode well for the market. Conditions are deteriorating and fears of a double dip recession have surfaced, but that is an issue for next week. The other news that had the potential to weigh on the market this week is the European credit crisis. Surprisingly, those bond auctions went very well and in some instances, yields actually dropped. Spain sold €6 billion worth of 12 to 18 month T-bills. The average yield fell from 2.3% down to 2.2%. The bid to cover also increased from 1.5 to 1.95 showing strong …
The Recent Rally Was Nothing More Than A Short Covering Bounce!
Friday, the market took a nasty spill and the S&P 500 futures finished 27 points lower. Good performance from the tech sector was overshadowed by major bank stocks. Deteriorating economic statistics also weighed on the market. Intel posted its best number is 43 years last week. It also provided robust guidance for the rest of the year. AMD also posted solid numbers and the stock tried to rally on the news. CSX said that rail shipments across all segments were strong. Transportation stocks are often used as a gauge of economic activity and normally, the market would have rallied on the …
No Help From GOOG or Financials! Soft Economic Numbers Are Taking Their Toll.
Yesterday, the market spent most of the day in negative territory. With one hour left to go, BP announced that the well was capped and the oil was contained. Energy stocks rebounded on the news. A few minutes later, the SEC that it would release major news after the close. Traders suspected that it had reached a settlement with Goldman Sachs in the fraud case. Financial stocks rallied on the news. This morning, Bank of America and Citigroup posted results. Both stocks traded lower on the news. Credit conditions are stabilizing, but topline growth is nonexistent. Trading volumes are down and …
Economic Conditions Are Starting To Slip. Start Lining Up Your Shorts!
This week, earnings season kicked off. Alcoa sees steady demand for aluminum and CSX is forecasting growth across all of its rail transportation segments for 2010. The market liked the news and it rallied on Tuesday ahead of Intel’s number. The tech giant did not disappoint and it posted its strongest quarter - ever! This set the tone for tech stocks and the market pushed opened higher yesterday. That rally lasted until the FOMC released its statement. The Fed lowered its GDP forecast for 2010. Fed officials concluded that the “economic outlook had softened somewhat.” Half of the Fed officials saw …
Stock Market Trading: How To Invest And Earn Money
People from every kind of background enjoy trading in the stock market. (…)