Posted on 06/29/2014 2:17:00 PM PDT by expat_panama
Yesterday was the 100th anniversary of the assassination of Archduke Franz Ferdinand in Sarajevo which sparked the war and the NYSE decided to close for the duration (more here). This week we begin the new quarter --and the second half of 2014. We'll see if the GDP for Q2 shows any improvement (1st report coming out in three weeks). Imho we're in an economy where we can still make money but it's just going to take more effort.
Review of last week here, reports/consensus coming out this week here.
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This is the thread where folks swap ideas on savings and investment --here's a list of popular investing links that freepers have posted here and tomorrow morning we'll go on with our--
Open invitation continues always for idea-input for the thread, this being a joint effort works well. Keywords: financial, WallStreet, stockmarket, economy. |
Good morning and a happy last day of June first day of a short week to all! Seems most of the econ report are at the latter part of the week (unemployment on Thurs) and today we only got Chicago PMI and Pending Home Sales. Future traders have metals down and stocks off a tad along w/ other markets. Interesting morning stuff:
When I toured the Forbidden City last year, I paid the equivalent of $20 to a local tour guide. It was well worth it. His English was very good, his knowledge was immense, and he was willing to take as much time as I wanted.
We also avoided the larger groups most of the day.
Several people approached me asking to do this... I passed on several, until I got a guy I could understand. :-)
Was in Thailand last week. Got a TWO HOUR Thai massage for $25 US. Also, well spent money.
This weeks economic data releases:
Monday:
9:45 am Chicago ISM (63.0 consensus)
10:00 am Pending home sales (FC 98.6)
Tuesday:
Auto sales
9:45 am PMI - Manufacturing (55.8 consensus)
10:00 am COnstruction spending (0.4% consensus)
Wednesday:
8:15 am ADP payrolls (+205K consensus)
10:00 am Factory orders (-0.3% consensus)
Thursday:
8:30 am NFP (+215K consensus, +210K private, +10K manufacturing)
8:30 am UE3 (6.3% consensus)
8:30 am Initial claims (315K consensus)
My accounts have been on a roll lately... but, I’m starting to get nervous. KEX, COP, WLK, and FB are my biggest holdings...
I just completed a two week trip through Asia (Singapore, China, Thailand). Things definitely seem to be slowing down over there. NO ONE in China has any cash. Customers everywhere are paying late, or not at all. Our company has moved to “Cash up front” only for doing business.
Have you noticed the collapse in pricing for iron? It’s a decent leading indicator, IMO. Business, globally, is slowing.
I fear that 2nd QTR US GDP is not going to rebound as much as people think. It may start out positive, but... after final revisions it might even be negative again. If that’s the case, earnings in this quarter may not be all that great.
Eventually... the market should have to recognize the lack of growth.
I’ll be watching the market closely today. If all goes okay I’ll be taking some off of the table today. July could be very interesting and I’m getting nervous as well.
The story is that the weekend of the 4th typically radiates a ‘good-feeling’ type rally, so I’m curious as to how all the Thurs rpt news might impact.
Donno about other traders but I’m getting all kinds of conflicting signals —even from the same sources. Like, last Friday IBD announced that stocks jumped in higher volume w/ the NASDAQ closing at a decade+ high, and right now I’m finding out that volume only jump because some indexes changed stocks and that made index funds buy/sell. Their bottom line is that this rally is pooping out.
Yeah Friday was Russell rebalancing. Our stock was hit with a 213K block after the close (about 20% of normal volume).
I bought one of those stocks hoping it would rally on forced buying. nada. I’ll wait a couple of weeks and dump it.
I downloaded Barcharts app last week and am really liking it. You might want to check it out. It shows a lot of info for a free app. I don’t have the paid version so some features don’t work. Check it out and see what you think
https://play.google.com/store/apps/details?id=com.barchart.app
I forgot to say it’s on my phone.
We opted to blow dough and stay a couple days extra in Beijing and Singapore where we embark. We get a two nighter in going Kong so as long as I don’t fall off the a great Wall or find a casino on Macau.. Definitely will check out guides in advance. :-) Thanks!
Hong KOng
Ah, that explains my problem. I love Barcharts tho, every morning I get my futures info at http://www.barchart.com/futures/heatmap ...
Yesterday ended totally flat both w/ metals and stocks, and now we got futures traders solidly upbeat on both awaiting reports on construcion spending + auto/truck sales.
The Holes That Could Expose This Market Rally - John Kimelman, Barron's
Stock Market @Midyear: Better Than Expected - Gregory Zuckerman, WSJ
Reuters European stocks get second half off to steady startSigns of the Gold Standard Emerge In Great Britain - Ralph Benko, Forbes
I see what you did there. ;^)
I was in Singapore last week as well... It’s an unbelievably beautiful place. So many things to do there.
Universal Studios, Aquarium, Marina Bay Sand Casino :-) , Shopping EVERYWHERE... restaurants EVERYWHERE... The gardens.... it’s unreal.
“My accounts have been on a roll lately... but, I’m starting to get nervous. KEX, COP, WLK, and FB are my biggest holdings...”
A little advice if you aren’t doing it, keep your Stop Loss orders up to date with the maximum % of loss you can stand. Don’t get greedy.
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