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Guerilla Stock Trading Report For Week Of Sept 6 2010

Guerilla Stock Trading Report For Week Of Sept 6 2010

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Published by Lance J
War room report and strategy for trading week beginning Sept 6 2010 and ending Sept 10 2010.
War room report and strategy for trading week beginning Sept 6 2010 and ending Sept 10 2010.

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Published by: Lance J on Sep 04, 2010
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09/04/2010

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GuerillaStockTrading.com
Be Free, Live and Work Anywhere In the World, Be Independent From theRoutine, and Don't Answer To Anybody... Or Die Trying
WAR ROOM STRATEGY FOR TRADING WEEKOF SEPTEMBER 6
th
- 10
th
2010
 
On Monday, August 30, 2010, the market did just what I discussed a week ago, it rolled over and headed down. Without a doubt, Monday was an uglyday despite the fact a key report indicated that consumer spending increasedat its strongest speed in four months in July. Not even merger and acquisition activity could easily get institutional traderson the long side. Intel announced a second buy in under a month, agreeing to pay $1.4 billion for a business of German firm Infineon which makes products for wireless telephones. Shares of Intel, which is also purchasingMcAfee in excess of $7 billion, dropped 2%. 3M reported that it will ante up$943 million for Cogent, which builds computerized systems that read finger and palm prints. Exciting news came out of the health care sector, whereFrench pharmaceutical firm Sanofi Aventis saw its $18.5 billion bid for Genzyme declined by the biotech company's board.U.S. stocks accelerated declines on Monday after remarks from U.S.President Obama did little to soothe traders worry with the slowing pace of the recovery. Obama said he and his economic team talked over additionalactions to build up economic growth, which includes contemplating tax cutsfor companies.SPY dropped for the whole day striking the crucial support area in the104.40s. This is actually the same level it hit twice in the last week. We havea key bull camp at this mark which the bears have been not able to overrunfor the last 3 weeks.On Tuesday, August 31, 2010, stock-index futures pointed to another day of losses on Wall Street as a distinct sell off in Tokyo and continuing economicanxieties soured sentiment prior to the release of U.S. housing and consumer-confidence data.
 
The psychology behind recent price action on SPY suggests traders arefeeling the pressure of uncertainty with economic data in days ahead offering possibilities for discontent.World stocks fell dominated by worries the U.S. economy is sliding back intoa recession, prompted further flows into safe-haven assets.The yen, popular for carry trades at times of economic stress, floated back near a 15-year high against the dollar after traders brushed off Japan'sendeavor to weaken the currency, the Swiss franc soared against the euro anddollar, and yields on benchmark German government bonds hit record lows.Growing U.S. economic concerns will likely draw investors faraway fromriskier assets and push-up the yen, keeping pressure on Japan to intervenedirectly in currency markets for the first time in more than six years. Crude prices, viewed as a proxy for world economic growth, also received pressure,extending losses to date in August to 6.5% and staying on course for their largest monthly decline since May.However, a large bombshell of news hit. Consumer confidence increasedmodestly in August. Airline stocks reversed earlier losses easing concernsamong investors over a softer economy which may lead to less flying.The financial sector rebounded sharply on news pending home salesincreased by 5.2%. Economists were forecasting a 0.1% increase. Consumer discretionary stocks also exploded upward after this report. Remember, homeequity lines finance purchases in the retail sector.Too little overall confidence continues to be depressing markets, that isunsurprising considering that the most visible elements of economic growth, jobs growth and the unemployment rate, have continued to be disappointing.Moreover, the housing marketplace remains a crucial source of weakness.Stocks ended their toughest August since 2001, battered by a wave of 

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