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The Unexpected

September 15, 2009 – 9:21 am

A threatened trade war with China put some downward pressure on stocks yesterday morning but do not expect a real trade war to develop. This is nothing more than saber rattling as both countries do not want any hindrance to the current beginnings of a world wide economic recovery.

With no other economic news out, the market looks for something to blame on yesterday morning’s weakness. Maybe it’s a simple case where the market is over bought and due for some weakness.

Later in the week we will have retail sales numbers, inflation statistics and housing all reporting for August. One of these reports will likely be a market mover. The guidance for all the numbers are for improvement with the lone exception of a slight increase in inflation. It’s the unexpected that will move the market in one direction or the other and that is what is likely to happen. An unexpected number usually shows itself. Which direction is a mystery and no one can predict that.

Good Trading
Steve Peasley


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