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Holding Up

July 5, 2012 – 4:58 pm

The market is holding its own for the first part of the holiday week with weak economic numbers out on Monday and a stronger than expected Factory Orders report out on the shortened trading day on Tuesday.

Factory orders were up .7%, a small number but much better than the .1% expected. Also the durable goods part of the report was well above 1%. To be sure these are not large numbers but they are all positive.

We continue to get a mixed picture on the slow economy. It is clearly struggling to gain its feet and no one is sure if the struggle is going to fall into a recession or produce continued slow growth.

So far the jury is out on that decision. However, I would not bet against the Feds of the world all striving to ensure growth.

Good Trading
Steve Peasley

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