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This 15 page Document was uploaded by an elite notetaker on Monday December 21, 2015. The Document belongs to a course at a university taught by a professor in Fall. Since its upload, it has received 9 views.
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Date Created: 12/21/15
Today’s Fundamentals U.S. Manufacturing grew in June More orders Stronger production Could help the economy second part of the year 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 Only Negative News Factories cut jobs last month Manufacturing slowed down Europe’s economy weighted heavily on U.S exports 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) Intraday Stock Market Analysis The breakout from a triangle pattern is typically powerful 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 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 The Gold Rally Look for a bounce to the 1300 to 1350 level in the short term The Bond Futures Market Consider Buying September And Selling December Spread Right Now. 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 The U.S. Dollar Look for British Pound to weaken as well Slow down in manufacturing sector New Set Up For Tomorrow Utility companies are very sensitive to interest rates and economy in general 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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