Good morning. Happy Monday. Hope you enjoyed your long weekend.
The Asian/Pacific markets closed mostly down, but not all markets were open today. Europe is not trading (Easter Monday). Futures here in the States are up a couple points.
The dollar continues to drop; silver is at an all-time high. Same old same old there.
I don’t have anything to add to the comments I made over the weekend in the weekly report or in the video I posted.
The long term trend remains up; the short term trend greatly improved last week, and charts of individual stocks are looking much better now than they were a week ago.
Whether it makes sense or not, the market is in pretty good shape here. But we still have many earnings reports in front of us, and the Fed meets Wednesday to again announce their target for overnight rates and the discount rate. Things could change, but until they do, my bias remains on the long side.
We’ve had two relativley quiet days in a row (not including the gaps), and with Europe being closed an FOMC meeting coming up, the market may be quiet again. We’ll see. I’ll have more to say after the open once the personality of the day established itself.
headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Economic Numbers
0 thoughts on “Before the Open (Apr 25)”
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Wednesday and BB is the show of the week, maybe the year.
Laying low.
Just a feeling I had that the VIX might be setting
up for a sell signal, although the talking heads
at CNBC (Bob Pisani) are discounting the viscosity
or the power that the VIX used to command over
the markets. Spoonfeed the general public with
more horsecrap I suppose. 2) On Thursday at
the bell I took a small short/put position in
FFIV hoping that it will pull back after their
earnings report last week. HW
euro not following threw to upside but to early to read anything in to it
europe closed
usd inverse to euro
Re: Silver
I don’t think it’ll make $60.00 this leg, but do buy on the next dip.
I think it’ll be a biggie dip, 20-30%. The non-commodities markets are getting bull complacent and my silver broker talks likes he’s had five gallons of coffee.
I heard from several different sources that Silver may
be getting ready to pull back. Go to CNBC try to locate
an interview with Scott Bauer. He and others (Rich E)
are looking for a pullback. I will wait for confirmation
before I start shorting silver, because it could go
parabolic up any day now. HW