The Wrap 7/29/10

{+++} Another silly day at the Casino. We gapped up, sold off, then rallied yet again. No news, just volatile action. Jobless claims were a slight improvement but essentially flat.

Tomorrow is GDP, Michigan consumer Confidence and Chicago PMI, all of which could potentially be market movers. Should be a hoot. GDP is at 8:30EST, Chicago Purchasing at 9:45 est and  University of Michigan Consumer Confidence at 9:55 est. Needless to say, the first hour tomorrow should be volatile.

We actually had some shorts trigger today, SYK, AFAM and FCN, and we added GS as a long. The latter looks to be in break out mode. The financials need to validate this move. I speak of XLF.

Tomorrow before the open, of the many companies scheduled to report, some of the bigger names include: AEP, AGP, ACI, BWA, CVX, UFS, ENDP, LPX, MRK, MGI, UPL, and WY.

The P&L has been updated. I will see you in the morning. Tomorrow is Friday as you know, so I would prefer to manage what we have right now, no names tonight.

In case you missed me pontificating today on StocktwitsTV, here you go.

I hope you had a great day and I will see you in the morning.


Previous Post
The Wrap 7/28/10
Next Post
Weekend Linky Dinks-Borrowed Time?

Recent Articles