ifo Institute’s latest Business Climate survey data for Germany is pointing to continued weakness in the recovery momentum:
We have a selloff in the pre market, but the TA says, don’t trust it yet. Or maybe, “Trust, but verify,” for those of you of a certain age, like me.
Meanwhile, as for chart picks, I didn’t see much that I liked in this week’s screens. I didn’t add any longs. We’re already loaded to the gills there. I added two shorts, and one is conditional on a limit price entry.
4 picks were stopped out last week. With the the 2 new picks, that will leave 16 open picks, including 12 longs, and 4 shorts.
List performance improved last week, with the average gain increasing from +2.9% to +3.8%. The average holding period rose from 12 calendar days to 13, which is still less than the usual 16-20 days because I added a slew of new picks the previous week.
Chart picks are theoretical, assume 100% cash stock trades, no margin, no options, no futures.
I once read somewhere that past performance doesn’t indicate future results, or something. Is that true? Hopefully it is, considering some of my past performances.
4:30 AM ET That’s right. Happy European Standard Time Day. To my fellow Merkans, I am temporarily only 5 hours ahead of you on the East Coast. It’s 9:30 Central European Standard Time and 4:30 AM in New Yawk! I’m behind the 8 ball! Gotta get to work and get a Technical Trader report out to you this morning (Done!).
In other news, the virus has exploded here in Europe and in the futures, the 5 day cycle projection is 3406 …
Monetary policy can be implemented through outright purchases or sales of securities, which permanently changes the size of the Federal Reserve’s System Open Market Account (SOMA) portfolio.
Today’s Fed QE, straight from the bowels of the NY Fed.
The belief that central banks printing currency can “buy/fix” everything that’s broken, lost or scarce is the ultimate in denial, fantasy and magical thinking.
Last week I was surprised when the US Government’s retail sales data hit a new high. No way, I said.
Well, Way!
Yes, some retailers are seeing booming sales, particularly online, and … wait for it…
Grocery stores. Even after pulling back from the lockdown spike, they’re still up more than 7% year to year.
Now there’s a basis for a thriving, growing US economy.
Not.
Despite the headline ‘historically fast’ recovery, actual employment remains in dire state
broader indicators of the jobs markets trends are still pointing to a horrific aftermath of the first of this pandemic, with the second wave now in full swing
One of thee major casualties of the COVID19 pandemic has been the U.S. labor market.