Market Direction: BULLISH alert issued 08/09/2012
The bright light we saw shining in the market in September with the various indices hitting or near 5 year highs, has turned dim as the market continues to pull back. Much of the pull back is related to less than stellar expectations regarding pending earnings. Additionally, there are concerns regarding the markets in Europe and China. Numerous companies will be reporting earnings this week. If less than stellar results are reported, we could see the already teetering market fall completely off the proverbial cliff resulting in significant declines.
As a result of the current environment, we still advocate that bloggers/followers play stops close and/or consider taking some money off the table. We still maintain a bullish posture, but will issue an ALERT in the event a change in posture occurs. Please monitor $tockMarketDirection daily for ALERTS.
Economic reports this week include: Retail sales (10/15), CPI (10/16), housing starts and building permits (10/17), initial claims (10/18) and existing home sales (10/19).
As a result of the current environment, we still advocate that bloggers/followers play stops close and/or consider taking some money off the table. We still maintain a bullish posture, but will issue an ALERT in the event a change in posture occurs. Please monitor $tockMarketDirection daily for ALERTS.
Economic reports this week include: Retail sales (10/15), CPI (10/16), housing starts and building permits (10/17), initial claims (10/18) and existing home sales (10/19).
$tockMarketDirection maintains a Bullish Posture. We encourage followers to monitor positions closely, exercise proper money management strategies and to monitor $tockMarketDirection for ALERTS that we may issue advising of a change in our current bullish posture. Cha-ching.
No comments:
Post a Comment