Hello PSW and Oxen Report readers. I am back from vacation and am ready to get back to making you some money starting today. The market has been losing itself over the past three trading sessions on a number of poor economic indicators, including unemployment rates and crude oil inventories. Can the market turn itself around this Friday before Christmas week? Is Santa coming early?
Let’s take a look at the market and see what we got.
Buy Pick of the Day: Ultra Financials Proshares (UYG)
Analysis: The market’s futures are up on the morning after three down sessions, but there is not much this morning to rally behind. There is no economic data or indicators to help give the market a boost and earnings are not from any market stalwarts (Carnival and CarMax). The big news is that Barack Obama is calling more meetings on Friday for the UN Climate meetings. Additionally, Germany is boosting the European markets after the German Information Business Climate Index came out higher than expected, which is good for business sentiment in the Euro-zone. Even with Asia down across the board, the US markets are moving in accord with Europe.
In Progress…
Entry: We are looking for an entry for an entry of 5.40 – 5.50.
Exit: We are looking for a gain of 2-4%.
Stop Loss: 3% on bottom of entry.
Short Sale of the Day:
Analysis: In Progress…
Entry:
Exit:
Stop Loss:
Good Luck and Good Investing,
David Ristau
