Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Friday, the 24th of May.
If The Economy Is So Good, Why Did This Happen?
We have been talking about this all week... Why did these bedrock companies, Wal-Mart (NYSE:WMT), Target (NYSE:TGT) and Sears (NASDAQ:SHLD), all miss their earnings estimates? Is this an early warning signal that the economy is really not as healthy as the Fed and everyone else would like to see? We will be examining all three stocks today.
Watch Today's Video Update Here
Looks Like Stocks Are Closing Out The Week Lower
As of this writing, it looks as though the stock market is going to close out the week lower. This is a first down week in four weeks and it's coming from a key level. If you have not watched our S&P 500 special video, I highly recommend that you take the time before the day is out to watch it.
Is Gold Trying To Make A Base To Move Higher?
There is a sense in the market that smart traders are getting just a little bit nervous about equities and money in general. Gold appears to be the beneficiary of this worry. Certainly, the $1,350 area on a close-only weekly basis is very important. Providing that level holds, I would not be surprised to see further sideways and perhaps some upside action in the gold market.
Are Currencies The New "Hot" Market?
You see the news, you hear about how Japan is basically devaluing its currency (Japanese Yen) which is proving to be a huge boom in the Forex markets which trade over $4 trillion every day! This huge worldwide market dwarfs every other market on the planet. More and more traders who have traditionally traded stocks are looking at Forex as an opportunity to make money. For example, if you have been following these updates for any length of time, you've seen me talk about the collapse of the Australian dollar and the Japanese Yen and both trades have been very successful. The Forex markets tend to trend and the trends tend to persist longer in Forex than they do in the stock market. Also, and this is the shocker, the Forex market can be less volatile than stocks. A 10% move in a currency over a year is considered a huge move. What makes Forex trading exciting is the leverage factor. You can leverage up to 50 to 1. Today we will be looking at the Yen, the Australian dollar and of course, the Euro.
Watch Today's Video Update Here
Recent Special Videos:
Wal-Mart (NYSE:WMT)
Lululemon (NASDAQ:LULU)
Apple (NASDAQ:APPL)
Tesla (NASDAQ:TSLA)
Google (NASDAQ:GOOG)
On behalf of MarketClub, I would like to wish all of our clients around the world a very happy and safe Memorial Day weekend. We will be back on Tuesday, so enjoy the break and this important holiday, remembering the sacrifices that were made for freedom.
Have a great trading day and holiday weekend,
Adam Hewison
President, INO.com
Co-Creator, MarketClub
Adam appears frequently on the following financial news channels as a guest expert. Click on any cable logo to watch Adam's latest appearance.
news
No comments:
Post a Comment