Are you ready for US GDP at 1.4%?
The last two months have been a bit of a rollecoaster ride. Ok, maybe not a ride with huge ups and downs but still.. the trend has been shifting from day to day. The sum of it, though, is that we are backtracking again. It is only 10 days ago that we closed above the 10,700 mark.
The markets have been trying to breathe life into the Dow supported by positive corporate reports but at the same time, the general economic news and forecasts are anything but upbeat. As we have been proposing for quite a while now, the optimism that was broadcast before summer was premature.
If you look beyond the national borders, the outlook is in many places even gloomier for the fall and winter of 2010.
Trading on hope (specially if it is someone elses hope) is never a good idea. If you trade, do so safely and capitalize on the current turbulence. We propose that news and the big, national/regional fundamental numbers will have a more marked effect on the direction of the Dow and other markets, that corporate gains.
Little has been said about the state of the European Union after the bailouts earlier this year but EU has more troubles which we expect to surface during fall 2010.
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