Download - Short term trading analysis
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Today’s Fundamentals
U.S. Manufacturing grew in June
More orders
Stronger production
Could help the economy second part of the year
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Institute Of Supply Management
Index of factory activity increased to 50.9 in June
May reading was 49 and lowest in 4 years
Reading above 50 suggests that economy is expanding
Reading below 50 suggests that economy is
contracting
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Only Negative News
Factories cut jobs last month
Manufacturing slowed down
Europe’s economy weighted heavily on U.S exports
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Construction Spending
Rose 0.5% during the month
Hit highest annual rate in 4 years
Keep your eye on the home building sector
Keep your eye on KB homes (stock)
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Intraday Stock Market Analysis
The breakout from a triangle pattern is typically powerful
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Volatility Has Been High
Volatility is a double edged sward
Easy to trick people into thinking it’s something more than a correction
Don’t let the market suck you in psychologically
Look at the big picture on daily basis
Volume is light this week
Don’t put too much weight into remainder of week
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The Bigger Picture
What looks like a strong rally on a short term basis can look like a small correction on a longer term
chart
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The Gold Rally
Look for a bounce to the 1300 to 1350 level in the short term
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The Bond Futures Market
Consider Buying September And Selling December Spread Right Now.
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Existing Short Positions
Today’s Rally Did Not Impact Our Short Positions
PFE – Down $.23
POR- Down $.38
WMT – Up $.10
Weak relative strength compared to stock market
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The U.S. Dollar
Look for British Pound to weaken as well Slow down in manufacturing sector
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New Set Up For Tomorrow
Utility companies are very sensitive to interest rates and economy in general
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Things To Keep In Mind
Don’t take too many positions right now
Market is very random and unpredictable
Advice from one of the most profitable traders in the world
“Remember that not taking a position is a position”
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