Tuesday, June 21, 2011
Buy the Greek Rumor
Traders will be waiting for that confidence vote in Greece. It seems like almost a certainty, so we are steadily rising here. So after we get that confidence vote tonight, that could bring in the Johnny come lately bulls on board awaiting Fed goodies and more weak dollar action. We could be set up for a fall on Wednesday after the Fed meeting concludes. I am constructive on this market until the Fed rate announcement. Then I expect us to have the sellers come back. Today should be a slow grind higher.
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10 comments:
+1
This is not a U shaped bounce but the V as always is.
Almost @ the 1300 level I mentioned last week.
I will begin to short when/if we hit 1306.
Good luck...Ez money.
way to trade this market is to follow the politicians and central banks
2011년7월은5번의금요일,5번의토요일,5번의일요일이모 두한달안에있습니다.이건823년만이라고하네요.8명의좋 은사람한테보내서알려주면4일안에돈이생긴데요.중국풍 수를기초로나온거라는데안하면사라진데요---부자가되어야할당신에게보내니이거보내고부자되세요 ^_^
IWe traded in a range near the bottom for all of last week, if that isn't a U, I don't think there has ever been a U bottom in the history of the stock market.
I enjoy reading your commentary Marketowl. Keep up the good work.
Greece v. Debt ceiling.
Those that think the markets recent decline and snap back is purely tied to Greece should contemplate this....
Greece defaulting would have minimal effects on the U.S. It's all scare tactics and it worked perfectly.
Everyone knew the IMF would save them but they went threw the markets decline and snap back anyway.
It is going to be the exact same with the debt ceiling being raised. Everyone knows it's going to happen but the media will tell you how bad it will be if it doesn't.
If they put it off til the last minute(end of July) I expect the roller coaster ride to be greater than the one we just had. Maybe 8-10% each way.
Apple-
Anyone interested in being long this stock should watch CNBC-Titans on Thursday 8pm. This should change your mind.
The debt ceiling is one of the dumbest things invented by the government. What is the point in having a ceiling if you are going to raise it everytime you reach it? And no, traders will not be worried about it unless they are dumber than rocks. It is even more of a foregone conclusion than the Greece confidence vote.
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