* MARKET THEMES FROM WEDNESDAY: Stocks traded stronger overnight, precisely were buffeted past times early on economical reports earlier a weak Chicago PMI study led to real potent selling together with a retracement of much of Monday's rally. Stocks rallied strongly off their lows, entirely to sell dorsum down, together with endeavour to a greater extent than or less other bounce belatedly inward the day. The internet final result was that stocks are finding of import resistance inward the depression 1060 attain together with back upwards at the Fri lows--particularly inward the NASDAQ together with Russell 2000 Indexes. Gold together with crude oil were potent today; the U.S. dollar was weak relative to the Aussie dollar; together with 10-year Treasury yields were firmer. I institute the selling today to last significant; a interruption inward whatever of the indexes below the Fri lows would propose a to a greater extent than extended, intermediate-term marketplace correction. The aggressive set from my arrangement was stopped out on the interruption below 1050; no positions at this time.
* OVERSEAS/OVERNIGHT NUMBERS: 1:00 AM CT - Germany, retail sales; 4:00 AM CT - EU, unemployment; 6:30 PM CT - Japan, menage spending, unemployment. Earnings reports scheduled for Th can last institute here.
* WORTH READING:
-- Sugar every bit the novel crude oil and other worthwhile reads;
-- Thanks to an alarm reader for this heads upwards on the Google Domestic Trends page; here's a await at queries re: existent estate;
-- PIMCO perspective on investing inward a depression yield environment;
-- The danger of reasoning past times metaphors when dealing amongst the economy;
-- StockTwits has its ain physician Phil offering a shrink's persuasion of markets;
-- Interesting post on the "party effect" inward trading.
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