Good morning. Happy Wednesday.
The Asian/Pacific markets closed mixed and without any standout winners or losers. Europe is currently mostly down – there are no standouts there either. Futures here in the States point towards a gap down open for the cash market.
The dollar is down slightly. Gold and silver are down small amounts, and oil is basically unchanged.
Yesterday was a solid up day that certainly brough a smile to the bulls, but it was only one day and considering the stair-stepping action we’ve had the last month, a couple follow through days are needed to solidify the beginning of a new trend up…if a new trend up is to establish itself.
I’m still in a conservative mode, and I still don’t think positions can be entered with the intentions of holding for a bigger move. Rallies are getting sold and dips bought. Trades work well for a couple days and then profits get wipped out soon after. We gotta be ahead of the curve taking profits or we’ll constantly let little 5% winners dissappear.
Here are those 60-min charts again. The Nas and Russell have taken out their most recent local high – a step in the right direction. The Dow and S&P have not. More time and work are needed. More after the open.
headlines at Yahoo Finance
today’s upgrades/downgrades
yesterday’s sector performance
this week’s Earnings
this week’s Economic Numbers
0 thoughts on “Before the Open (Jun 1)”
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When I press the economic upgrades and downgrades page, it no longer brings me to the excellent comprehensive page, which existed, heretofore, but instead brings me to “briefing. com”
Thanks…I hadn’t checked the link in a while. I’ll get the right one. Briefing just updated much of their site.
instos sold into the gap up rally till about noon as evidenced by my nyse tick chart
then the mutuals bought the dip to protect their dresses
the move started in europe with the dax mostly and ftse back to its 6000
today they are quite and testing the lows of y/day
what are the motives of the big boys–well they have massive short hedges
If anybody goes along with the idea of shorting IBM, please let me know. HW
Short.
there shall be violent volitility–now i like that
buy the vix—-noh im a bear –i only know how to sell
the only way to fix the banks is to bankrupt them
Neal, what is going to happen on june 9th
Neal is going to be Bar Mitzvah on June 9th HW