No news permeates Monday trading, while Tuesday Walgreeen's reports earnings and May existing home sales are reported. Today and tomorrow the FEDS are having their two day summit where they intelligently will discuss the inevitable: keep rates low to encourage borrowing, and be prepared for turbulence and a "watchful eye" on inflation.
There has been, coincidentally, a 3.6% drop in charitable donations, with a 5.5% increase in giving by corporations.
This is the story of the "talking heads":
Wall Street Said 'Buy, Buy, Buy' BP Stock As Gulf Crisis Unfolded
When you click the URL above you'll see they ALL were recommending BP at top prices. And have an "explanation for everything." Do not trust journalistic authority as expertise.
And here's the beginning of a week of a few thought provoking concepts that affect your trading. For example, what does this really mean?
"I am tomorrow, or some future day, what I establish today. I am today what I established yesterday or some previous day."- James Joyce
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Our Dow projections are the longest running (17 trading days) projections we've ever had and many of the support/resistance lines have been met, several times.
Market moves up were by sector this past week, on low volume, prompting bears to speculate "no rally," and bulls to note that the market continues to hold.
Because of where the market is stalling the odds diminish for a market crash to 9550 again, but FEDS or housing news this week could be a negative catalyst.
We believe, purely contrarian, that there is more upside. We were profitable on the same call 4 day of 5 last week, and will continue with this same trade.
Our goal is for you to begin to understand the nuances of a position, and how profits can be made with trades of $5000 or less.
This call is the same we've traded, from lows of 3.50 to current closes of 13.00.
Please study our Dow projections carefully, there is much detail, and only buy our recommendations following our rules of engagement.
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