Wednesday, June 27, 2007

Pre Market

Once again Asia and Europe are very weak with Shanghai being the only exception.

Orders for manufactured goods plunged last month by the largest amount in four months. The question is whether this 2.8% drop is just an aberration or the development of a new trend.

The FOMC meeting begins today and an announcement will be made tomorrow concerning interest rate change which is expected to remain steady. Traders of the capital markets will be keeping a close eye on the language used. An indication of potential interest rate tightening could kill this bull. Language indicatin potential rate cuts could reignite the bulls. Either way tomorrow should be very interesting.

The markets are expected to open weak today. I am keeping a close eye on S&P 1490.


Anonymous said...

did you short the bottom?

TheCapitalGame said...

The open was too weak to allow me to short.I am standing on the sidelines and watching the market action carefully. I may liquidate some more long positions.