http://www.tradingmarkets.com/.site...s-Warns-Stocks--Slip-Abby-Stays-Pos-81884.cfm Hedge Fund icon, Paul Tudor Jones, warned his clients that the rally is nothing more than a bear market bounce, a common occurrence during extended downtrends. However, this negative sentiment was challenged by Goldman Sach's Abby Joseph Cohen who stated a new bull run has started with investors easily seeing a 10% gain in the S&P 500 by years end. Positive data from the unemployment front counteracted a slew of poor earnings reports resulting in a slight negative bias on the day. The DJIA gave back -24.71 to 9256.26, the Nasdaq fell -19.89 to 1973.16 and the broad based S&P 500 dropped -5.64 to 997.08. MetroPCS (PCS | Quote | Chart | News | PowerRating) - Missed analysts estimates by 30% sending shares tumbling 29.16% or $3.70 to $8.99. Staples (SPLS | Quote | Chart | News | PowerRating) - The office supply retailer was upgraded to conviction buy at Goldman Sachs triggering a rally of 5.50% or $1.16 to $22.27. Macy's (M | Quote | Chart | News | PowerRating) - Optimistically rose its forecast sending shares higher by 5.56% or 79 cents to $15.07. Home Inns & Hotel Management (HMIN | Quote | Chart | News | PowerRating) - The Chinese low end hotel operator increased its sales forecasts with shares soaring 23.29% or $4.64 to $24.56. Oil slipped 3 cent to $71.96, gold eased higher by $3.40 to $962.90 and the fear index VIX advanced 3.09% to 25.67. According to a recent report, eight out of ten securities traded are exchange-traded funds. Want to learn how to trade them? Click here to pre-order High Probability ETF Trading, the first quantified book of trading strategies to improve your ETF trading. Market Snapshot Dow -24.71 9256.26 NASDAQ -19.89 1973.16 S&P 500 -5.64 997.08 Economic News Construction Spending (Jun): Consensus: -0.5%, Prior: -0.9% ISM Index (Jul): Consensus: 46.5, Prior: 44.8 Auto Sales (Jul): Consensus: NA, Prior: 3.4M Truck Sales (Jul): Consensus: NA, Prior: 3.8M Personal Income (Jun): Consensus: -1.0%, Prior: 1.4% Personal Spending (Jun): Consensus: 0.3%, Prior: 0.2% Pending Home Sales (Jun): Consensus: 0.3%, Prior: 0.1% ADP Employment Change (Jul): Consensus: -340K, Prior: -473K Factory Orders (Jun): Consensus: 0.5%, Prior: 1.2% ISM Services (Jul): Consensus: 48.0, Prior: 48.8 Crude Inventories (07/31): Consensus: NA, Prior: +5.15M Initial Claims (08/01): Consensus: NA, Prior: NA Average Workweek (Jul): Consensus: 33.0, Prior: 33.0 Hourly Earnings (Jul): Consensus: 0.1%, Prior: 0.0% Nonfarm Payrolls (Jul): Consensus: -333K, Prior: -467K Unemployment Rate (Jul): Consensus: 9.6%, Prior: 9.5% Consumer Credit (Jun): Consensus: -$4.1B, Prior: -$3.2B
GM chapter 11 = PRICED IN 125K+ jobs lost from GM chapter 11 = PRICED IN unemployment @ 9% = BETTER THAN EXPECTED unemployment @ 10% = DOW SOARS unemployment @ 11% = GREEN SHOOT RALLY unemployment @ 12% = ALREADY FACTORED IN unemployment = 35% = DOW DROPS 100 POINTS Governme nt spends 1 trillion of OUR dollars = STIMULUS North Korea fires nuke = RALLY Israel bombs Iran = 30 MINUTE END OF DAY RALLY world explodes = ASIA RALLIES PMI crashes = HUGE RALLY No jobs are created = RECESSION ALMOST OVER U.S. debt overwhelming = TOO BUSY RALLYING TO CARE Consumer stops spending = RETAIL RALLY Banks are insolvent = SIGNS OF STABILIZATION American auto industry BK = GOOD THING 8:58 AM Banks pass scam stress tests = HUUUUUUUUGE RALLY Banks "only need 75 billion = OUT OF THE WOODS Banks pass a real stress test = NEVER WOULD HAPPEN Banks pay back tarp = LATE DAY SURGE Banks can't pay back TARP = EARLY MORNING SURGE 12% mortgage delinquency = GOOD FOR STOCKS Hundreds of thousands of mortgages underwater = HOUSING BOTTOMED Dollar rises = RALLY Dollar crashes = RALLY Inflation = BULL MARKET Deflation = BULL MARKET CONTINUES REFLATION = MASSIVE SHORT COVERING RALLY Gold rises = STOCKS RALLY 8:59 AM Gold falls STOCKS RALLY CONSUMER INSOVENT = CONSUMER IS SPENDING OIL @ 50 = BULL RALLY OIL @ 60 = GREEN SHOOT OIL @ 100 = IMPORTANT RECOVERY SIGN OIL @ 20 = TAX BREAK And the one we should all interpret correctly: NO ONE IS BUYING STOCKS = BILLIONS ON THE SIDELINES
Fundamental jibberish aside, PTJ should command more "respect" but AJC should command more "influence". They both may be "right" about where we are in the market.
I am tempted to get this framed, it kinda shows importance of actually trading what you see, not what the news says or what you wish !!! Brilliant
S2007S has never lived by those words... but I guess you can do that when you "paper-trade" your way to every single inverse ETF from the March lows onward.... and never blow out!