Monday, July 16, 2012

Today's Market was no Big Deal

Stocks stalled a bit. $JPM gave some back from Friday's ramp, right? And $FB is back under $30. Stocks fell 7 of 8 days. But the market has been going back and forth in 4% moves. No reason to think we're out of the summer's trading range just yet. After Friday's big move, today was a ho-hum day. As I type, Asian stocks are up on hope over the Fed testimony on Tuesday. I think it's becoming pretty clear that the US economy is stalling and the Fed is going to do something. Even though everything it has done so far hasn't done too much. Some folks thing that they may even be prolonging the problems.

Anyway, the big focus will be on the Fed and earnings guidance from lots of companies reporting earnings. It will probably be choppy. Heck, I'm tempted to fade every big move in either direction!


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