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Data Packed Week

July 12, 2010 – 5:50 pm

This week will give us a number of economic reports as well as earnings reports for some important companies. The economic news will show a continuing ‘soft patch’ in an already soft economic recovery. The stock market already knows about the soft patch and will be looking for the earnings reports and more importantly the guidance of future earnings to give them a direction.

With prices for stocks at very reasonable prices it will be the fear of a possible double dip recession that will be on everyone’s mind and not the bargains that stocks represent at this time.

There is no reason to expect an upward or downward trending market until clarity demonstrates itself. However, before that happens the market will already have made up its mind. Stocks move up or down before clarity happens. With last weeks 4% up move after two weeks of a strong down move the market itself is uncertain.

Your best bet is to stay with your strong stocks and sell the weak ones. Buy on dips and sell on spikes, but stay with the market. It is just too cheap not to own some of the best and strongest companies at very reasonable prices.

Good Trading
Steve Peasley

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