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Look Forward

July 15, 2011 – 5:09 pm

Earnings, statistics and political wrangling pushed stocks around this week mostly to the down side. Two of the three, economic statistics and earnings were good, but they couldn’t quite trump the debt ceiling issue that is laying over the market like a wet blanket.

Concerning economic statistics, inflation, industrial production and unemployment claims all showed nice improvement. Earnings out of Google last night was much better than expected while Alcoa earlier in the week was good but not great. These are two bellwhether type stocks that influence more than just their industries.

The market is becoming more and more undervalued once again. As soon as the wet blanket is removed it will rise quickly. It will happen as the debt ceiling issue cannot drag on for much longer. It might end in August but when it does you will have to already be in the market. You are not going to get a lot of time to take advantage of the resolution. Before it happens we will get hints that the two sides are coming closer and we will have times when they are far apart, but at some point it will be an issue that will be in the past.

Things are looking up so position yourself now. Buy on the down days.

Good Trading
Steve Peasley

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