Morning Brief Friday July 20, 2012

Good Morning. Today being options expiration there is zero economic data being released. Not even a Fed speech is scheduled. Dare I say we are likely headed for another painful, low volume paint drying session.

The past number of Friday’s have all closed higher in anticipation of some form of central bank intervention over the weekend. Yet an equal if not higher number of Mondays have sold off as reality sets in. So at what point do Friday’s begin to selloff into the close as traders prepare for the Monday selloff? Or is the desire to not miss out on some form of intervention simply too great? Right now the latter would win out in this market.

We continue to get mixed messages from earnings, though spun positive from the media. The biggest theme seems to be a meet on the bottom line of often revised lower estimates and a miss on the top line. And forward guidance has been weaker than anticipated. 

You need to be logged in to see this part of the content. Please Login to access.

If you enjoyed this article, please consider sharing it!
Icon Icon Icon

Related Posts

Popular Posts

Sorry but you do not have access to view the comments

Archived Posts By Date

Archived Posts By Subject


Opinions are those of the author(s),
and may contain errors and or omissions.
No warranties, either written or,
expressed are implied by this content.
Investment Advice
Content does not constitute investment
advice. Author may not disclose
financial positions in securities.

Get In Touch

Macro Story

Tony Pallotta

Contact via email

Technical Support

This website is designed to support
all browsers. If you have a question
or find an error, please contact us.