Archive for June, 2010
Wednesday, June 30th, 2010
Yesterday the market spooked itself over fears of Europe and its new tightening policy. The fear is that they are starting to tighten too soon, before the economies around the world are on solid footing. Added to that was fear that China is slowing its already too strong recovery. They have been trying to slow themselves down so the fear is that they will slow too much.
It is obvious that fear is bubbling just below the surface of this market. It does not help that the economic statistics seem to be softening when they were already soft to begin with. The statistics are still pointing to a growing economy but that growth is very anemic.
Stock prices are low in comparison to earrings. Also, earnings season starts next week and the numbers should be very good as there has been little to no warnings by companies that they are not going to make their numbers. Just as important as the actual earnings is the future outlook that the companies will hint at when they report the previous quarter’s profits. Make no mistake the profits are going to be very good, but the stock market looks forward and that is where the fear is coming from. Investors and traders are not convinced that we will not fall into a double dip recession and yesterday that fear spiked. Earnings go down in recessions; there’s the rub.
Good Trading
Steve Peasley
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Wednesday, June 30th, 2010
Today’s Stocks and Topics: (PFE) Pfizer Inc., Retirement, Account Rebalancing, (FCX) Freeport-McMoRan Copper and Gold Inc., Earnings, Support and Resistance, Investing, The Economy.
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Tuesday, June 29th, 2010
Today’s Stocks and Topics: Stocks, Long-Short Mutual Funds, (AGNC) American Capital Agency Corp., (IYT) iShares Dow Jones Transportation Average Index ETF, Preferred Stocks, Investing at Old Age, I-R-A vs. Roth I-R-A, (TSM) Taiwan Semiconductor Manufacturing Co Ltd.
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Monday, June 28th, 2010
The market is looking for something to give it optimism and finding the search difficult. The economy is still recovering but it continues to be very sluggish with many investors worrying about a double dip recession. That is not likely but the worry is real.
This morning consumption and income reports were released and they were mostly in line with expectation of slight improvement, but that didn’t help the market. The G20 meetings over the weekend did not produce any significant news therefore the market was on its own to do with the information or lack thereof as it wished, still hunting for the good news that it wants.
It feels like the market is collectively holding its breath for earnings season to start. Earnings are going to be good because we had very few earnings warnings in June. Companies tend to warn the public if they are going to miss their earnings the month before the end of the quarter and when we don’t have those warnings they generally meet or beat their earnings expectations when they start reporting. Those numbers will come in over the next four weeks or so.
Of course the jobs report this Friday for June is going to be a report that everyone is anticipating. There is an expectation of a loss of 100,000 jobs now that the census jobs are no longer being produced.
Good Trading
Steve Peasley
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Monday, June 28th, 2010
Today’s Stocks and Topics: The Stock Market, (SPRD) Spreadtrum Communications Inc., I-R-A, (AGYS) Agilysys Inc., Earnings Report, (IMN) Imation Corp., (WDC) Western Digital Corporation, is ARCO going to help BP?
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