For FullyInformed USA Members here are my morning investing strategy notes for Aug 17 2015 by 10:40 AM.
You just never know what will impact stocks. While technical indicators are showing some strength from Friday’s rally, cautionary flags were everywhere. But in general the markets on Friday didn’t look in overall bad shape considering the constant zig-zag the market has been in. Enter this morning and the Empire State Index reading showed the worst number since the recession. The reading fell from positive 3.9 in July to negative 14.9. Whether the number will be revised is anyone’s guess especially considering that the index for future business activity climbed 7 points to a reading of 33.6. That seems at odds with all the other readings. New orders for example went from negative 3.5 to negative 15.7 and shipments plunged from positive 7.9 to negative 13.8.
All together the reading this morning looked like an economy that was not just teetering on the edge of a cliff but one that was falling off of it. What was even more striking about all the bad news was that no analysts had foreseen such poor numbers and in general most thought it would be “steady as she goes” as far as the numbers were concerned. These numbers are in stark contrast to what the employment numbers are telling ……….the rest of this article is for USA Members.
Morning Investing Strategy Notes For Aug 17 2015
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Disclaimer: There are risks involved in all investment strategies and investors can and do lose capital. Trade at your own risk. Stocks, options and investing are risky and can result in considerable losses. None of the strategies, stocks or information discussed and presented are financial or trading advice or recommendations. Everything presented and discussed are the author’s own trade ideas and opinions which the author may or may not enter into. The author assumes no liability for topics, ideas, errors, omissions, content and external links and trades done or not done. The author may or may not enter the trades mentioned. Some positions in mentioned stocks may already be held or are being adjusted.
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