Before the Open (Jul 30)
by admin on July 30, 2010
in Before the Open
Good morning. Happy Friday.
The Asian/Pacific markets closed mostly down – there were no big losers. Europe is currently down across the board with relatively smallish losses. Futures here in the States point towards a gap down open for the cash market.
It’s been a trying week for the bulls. It started with a mini uptrend in place, and after some follow through Monday, we’ve had 3 days of selling. The losses aren’t great, but they’ve been enough to shake the confidence of the bulls.
Here’s the weekly S&P…not what the bulls were hoping for coming off a week that closed above 1100.
If the market is strong, if the S&P is going to move up to 1200, the bulls need to step up soon. A little give back is fine. A big give back is not. Play good defense here, and watch for a possible washout soon. More after the open.
headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Earnings Reports
this week’s Economic Numbers
Merely another buying opportunity.
The media loves trashing this market.
Meanwhile, with housing prices going back to normal prices, we call it a crisis.
And if smokes go back to a buck a pack, would that be a disaster.
Or a Ford Mustang for 3500 (1964 price) we would run to the dealer.
One inning does not make a ball game.
And one report will be a memory three days from now.
Look, you have to decide what is your economic look. Only you. Not me or some guru.
I just have not seen so many “doom and gloom” books on the shelf of Barnes and Noble in a long time.
It’s not my outlook that matters it’s what I perceive the market’s outlook to be. You seem to be a bit Narcissistic.
Oh my Gawd, an attack.
nly you not me or some guru.
Let’s try and not turn this into anything more than just my opinion.
I do not see how saying
But what the heck do I know, I just trade the stuff.
I told people I was long Apple and St Jude.
I am merely a guest on this site.
Maybe I should just
follow Crammer.
Neal…..if you perceive the market’s outlook, your perception is biased because it is merely your point of view.
perception is based on one’s bias. I can’t even spell narcissstic.
Thanks for your response, maybe we can help the Levitt Bros open a Deli
Dow12000.com
lol, you certainly bring color to this blog Neal! Anyway I’m a proponent of eating more fish, easy on the smoked meat.