Good Morning,

From the sky is falling to everything is fine. We are bouncing back and forth in one big range in the broad markets, support is holding in most stocks and sectors and the dollar is all over the place. Makes for very, very astute trading and knowing when not to trade is just as important.

So money management, trade risk and realistic expectations with an emotional attatchment are key.

Rubber band action in the SPY (otherwise known as support and resistance):...

Good Morning,

I can't stress this enough. The Jobs number is HUGE! Aside from the Fed, it sends equity markets into trends for days and days and days IF the number misses expectations by a large amount.

We expected 70k and we got zero. That is a VERY bearish number. If it weren't for the "Fed in the background", we would be down another 500 points or more over the next few days.

BUT, we do have the "Fed in the background" and we are hanging in there. Check out this support line:...

Good Morning,

Data this week was neutral to weak to very, very weak (see today's jobs report). BUT, the markets are still hanging in there as the threat of some type of intervention is still out there. It is always looming and rumors rule, so trade with appropriate size, pick your levels and don't get stubbon.

Speaking of levels, I had a nice DOUBLE FALL LINE TRADE hooking up and watching the USD/equity relationship, I thought, this is it for the day. Get green and shut down as traders are fleeing for the beaches on the East Coast....

Good Morning,

After yesterday's Fed meeting minutes, the threat of QE3 is more present than ever. So regardless of good or bad news, the markets want to go higher. Maybe, if it is bad news, we rally farther than if it is good news. We live in a sick world!!

Again, throw out yesterday's Consumer Confidence number. As Rick Santelli put it so well: "the downmove that we had will be reflected in August numbers, not July's". Today's CHIPM was for July and it was basically on the numbers. The unemployment component was as well. Tomorrow, when we get ISM, that may give us some more recent data.

And oh yeah, you see that I don't mention ADP Payrolls. It isn't ...

Good Morning,

First of all, I would like to thank the Park City Trading/Investing Club attendees for being so prepared and providing great content to discuss. As you know I always lead in with fundamentals, so here we go.

Consumer confidence -  a total bummer and also a toally lagging indicator. It follows the stock market - so the stock market was down and everyone said "woe is me!". If the stock market is higher when we have our next survey period, it will be higher. So the number caused the stock market to break, but technically, we have a much different picture now as we are making new highs as we speak. We also have soooo...