Good morning. Happy Tuesday.
The Asian/Pacific markets closed mostly down, but there were no 1% losers. Europe is currently trading mixed. Belgium (down 1.8%) is the only 1% mover. Futures here in the States point towards a flat open for the cash market.
The dollar is up slightly. Oil and copper are down. Gold and silver are down.
Moody’s downgraded at least 12 Spanish banks to junk status.
Spain’s short term borrowing costs nearly tripled with it sold short-term debt today.
News Corp is considering splitting in two…one company would hold its publishing entities, the other entertainment.
From bottom to top, the S&P rallied almost 100 points this month, but thanks to two stiff down days, half those gains are gone. It’s a reason why we need to be ahead of the curve taking profits and not of the attitude you can sit back with a loose stop. The downtrend had been neutralized, and several indicators had turned up, but with the uncertainty in Europe lingering, a prudent management strategy would have had you taking partial profits along the way and using stops to protect remaining shares. You never know what the market will do, so you gotta play the odds and not worry about leaving money on the table.
The election in Greece cleared things up for about 5 minutes. There’s still lots of uncertainty. Will the EU allow Greece to renegotiate the terms of its bailout? Will Greece reconsider leaving the EU and creating their own currency if they don’t get the terms they want? Lots of question, not many answers. Throw in the lack of good looking charts right now, and I remain in a defensive posture. More after the open.
headlines at Yahoo Finance
headlines at MarketWatch
today’s upgrades/downgrades
this week’s Earnings
this week’s Economic Numbers
0 thoughts on “Before the Open (Jun 26)”
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Jason only thing you forgot to mention is Merkels unwillingness to adopt europe as children
9:59am USD Richmond Manufacturing Index -3 prev 5 forcast 4
prop goes in
corr: today -3 prev +4 forcast +5
started a posistion in ACI 5.51. hard to believe I just sold at 6.54 last week
still below the 50d on the vxo. I believe this is what the fed is using
the vix is used by the big insto market makers,to con the retailers
the trap is set when the vix moves up
the only game in town is opts derivitives–shares are just pawns
as at high noon,markets following the euro
london ftse-german dax closed with a unchanged doji,
which could mean further down of up and the merkel wave 2 chop is still in
especially time wise we have not had enough chop
but if wave 3 has already started,then greece and spain will kick germany and merkel out of the euro land and the euro will crash and so it should to help the rest of europe
ultra BULL–dow 14000,Neal has turned into a ULTRABEAR,doing a expose A of the 1929-30 market crash,which was the failure of all euroland banks–almost identical to now
Neal the grisly bear can be found on his dow 12000 site
my pet –teddy bear –says neal is right
crap. they won’t even let us have 1295
trade what you see, not what you want to see
i only trade reality,russ
thats why im a daytrader,that trades the isness of the 1 and 5 minute charts
reality is what is–not what you would like it to be,or what probably could be-,acording to mr hindsight or even trend lines
i only use insto indicators as instos not the fed or retailers move the markets
skankie farts and the market jumps. its ALL about the fed
a trader needs to be always 5 minutes in front of present time
a simple mind set ability
if the merkel doesnt come on board at this weeks europe sumit,then watch spx 1295 fall as panic hits,but watch the 1-5 min 24 hour futures charts for comformation
i trade the world 24 hours a day not some little insignicant usa stock
become a big boy and trade the spx futures, if you cant handle all the world indexes at once
buy your chinesse yaun today,or soon
hsbc bank is offering yaun dominated bonds
Neal is the King !