Look For Weakness In The Beige Book and Selling Pressure Into Next Week!
This week, the market is taking a breather after a big run-up. The strongest companies report early and we typically see a rally as earnings season kicks off. During the last three quarters, stocks have retreated after the first few weeks of releases. Bulls have been able to push stocks higher uncontested. Concerns over a European credit crisis have eased and the economic calendar has been light. The Eurodollar has rebounded and some of the PIIGS bond yields have actually pulled back slightly. The bank stress test (although it was a joke) has also calmed nerves. The issues have not been …
July 28, 2010
• Posted in: Options
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