The Market Feels Heavy and SPY 105 Could Be Tested Soon!
I will not be posting market comments from August 2nd – 6th. Thursday, stocks retreated early in the day. The biggest news came from Colgate and Kellogg. Consumers are "trading down" to cheaper products and this has broad-based market implications. We have already seen deteriorating retail sales numbers and stores are reporting that consumers are focusing on necessities. Over 70% of our GDP is derived from spending and Americans are tightening their belts. I am writing this report before the GDP number has been released, but I believe it will come in at 2.5%. As we have seen in the last …
July 30, 2010
• Posted in: Options
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