Today the markets rallied heavily. This is in part do to some positive news coming out of Europe, but a lot, I think, to do with it being the last trading day of the 2nd quarter and the beginning of the 3rd. In a phrase “window dressing” and a little short covering. Not to be “Downer Dave”, but I see no reason to get too excited about this rally. Everything on the table for this optimism is weak at best. The beginning of the 3rd quarter lasts for about 24hrs, and Europe’s issues are far from being solved. So much so that Ford got slammed today in the midst of all of this rallying. In addition to this, the reason it was slammed was because of it’s dependence on Europe to sell cars and the demand is just not there.
The Obama Care Scare is over with. Surprisingly the markets didn’t react so much to this over hyped story. Reason being, no change, is no news. If it would have been struck down, that would have signaled a totally different message and the markets definitely would have reacted to that! But Wall Street believes that President Obama will be re-elected, so victories and anything consistent with this is a non – story.
Google released its plans for the Nexus Google Tablet! It’s aimed directly at the Kindle fire! Didn’t get the buzz that Windows tablet did but maybe we’re getting a little ’shell shocked’ from new tablets. I know I’m not so excited about it…Got to give it a chance I guess!
Well that’s it for this week! Next week is a short trading week due to Independence Day, so I don’t expect much after Monday, if at all…..Until then ..Trade Responsibly my Friend!!
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