We'd Like to Repeat

On the theoretical Dow tops of 10,742, and lows of 10,580, despite a day up until the 3 p.m. hour that seemed perfect for day traders, and hesitant on upside

Calls were tighter to play, from 2.90 to 3.70 and puts even tighter. We will keep both signals open.

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We'd like to repeat Monday's commentary, after another week has gone by, first for review, and then for comment:

"Stocks had their best month in a year, with the Dow posting a July gain of 692 points, or 7.1%. Encouraging earnings reports have supported the market. On Friday the blue chips overcame an early 120 point drop to finish down just 1 point. However, the FEAR began. U.S. economic growth slowed in the second quarter to a 2.4% annual rate as consumers remained frugal and a business restocking showed signs of fading.

Floyd's favorite, and his soapbox rants for years: "The recession was deeper, and the subsequent recovery slower, than the government originally estimated. Remember just a few years ago when Emperor Bush was telling us we were 'not really in a recession' and that things were brighter. Hmm, well it appears the numbers were wrong and the 1.5 last years of the Emperor's reign the GDP was actually much worse, with corrected numbers.

People forget the cause of the recession and focus on the stimulus spending that is meant to save it. For just a year, that didn't exist, I would like to implement the Republican strategy for "stop spending money". I have yet to see a Republican plan that details WHAT TO DO.

Floyd predicts another large economic stimulus required before year end.

Our masterful call that has hit profits over 21 times in a row was profitable again Friday for traders that had steel nerves and bought on the downside, waiting for the turnaround."

Comment: Even hedge funds can't trade the whipsaw and make money, and certainly individual traders cannot.
As the economy and lack of jobs worsens I suggest again that the top 50 multinational S&P500 companies are just bringing in the cash, building their coffers, and the market is now led by only newsbits and electronic trades, while the corporatization of America takes place. We falsely think that socialism is overtaking our country; instead, a reverse capitalism in which only the few have it all is at stake.