Market’s Confidence in July Has deteriorated as forecasted by technicias and fundamental analysts, people and I include myself wants to be optimstic in a near market spring but there is something missing “fundamentals are not showing up at least for now ” After an amazing growth of almost 40% since March the market in July had been losing steam and ithas been demonstrated in last Market Closing of 7/11/09.Dow Jones Down Again (it’s been for weeks now and a technical head and shoulder pattern building force)
Recent news are not helping at all to a near sustainable recovery, as I said before fundamentals are not helping to struggle this recession out, People want to be optimistic but they dont find fundamentals for it.
Another point Oil has plunged againg to US$ 69 Bad For Me !!! I bet for energy stocks and energy has plunged with oil again (I will reduce my exposure to energy this time) but I know it would be for a very short time thanks to speculators. My thoughts are and I knew it !! Oil was pushed by speculators instead of fundamentals, the common sense of supply and demand does not exist this time.
But I feel confidence is a must in this recovery for stocks as well for the whole market …Just follow News, control greed, make a good technical and fundamental Analysis…AND GOOD LUCK IN YOUR TRADES….
