Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Tuesday, the 31st of July.
Will they or won't they? That is the question on every trader's mind these days. Will the ECB ride in and save the Euro? Will Ben Bernanke and the FED come in with another round of quantitative easing? We are not sure, and we don't think anyone on this side of the pond or in Europe, is sure either.
Will ECB Chairman Mario Draghi really follow through and enact concrete measures to avert the European crisis? Regardless of any actions the ECB takes, Italy, Greece, and Spain all owe a boat load of money. How are they ever going to pay it back?
While these uncertain times are full of questions, one thing is for sure, the markets will eventually tell us which way the decision is going.
DAILY PERCENTAGE CHANGES BY SECTOR:
| CONSUMER GOODS: -0.28% | Biggest Loser COH -16.72% |
| SERVICES: -0.38% | Biggest Loser SBUX -2.77% |
| HEALTHCARE: -0.32% | Biggest Loser HUM -13.24% |
| ENERGY: -0.35% | Biggest Loser APC -2.26% |
| TECHNOLOGY: +0.19% | Biggest Winner AAPL +2.25% |
| FINANCIAL: -0.28% | Biggest Loser AIG -2.20% |
| INDUSTRIAL GOODS: 0.00% | Biggest Loser BA -0.77% |
| BASIC MATERIALS: +0.54% | Biggest Winner NUE +2.02% |
| UTILITIES: -0.18% | Biggest Loser NU -2.50% |
Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology.
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Was LONG EGO high 9's, sold out mid 10's. Left 50 cents + on the table. Earning were sick and outlook worse. Went to mid 11's SHORTED and holding that position. EU is SICK, QE3 won't happen NOW, Economy stalling US and USD heading lower. market is weak and is going to get much weaker this and next week. Get in CASH or SHORT!
Don't be long equities!