For Immediate Release
Chicago, IL – July 1, 2010 – Zacks highlights commentary from People and Picks Trader “inthemoneystocks”.
For more Voice of the People, visit http://at.zacks.com/?id=5851
Featured Post
Here Is the Deal
This morning the U.S. Dollar Index is trading lower by 0.04 to $85.98. As we all know by now, the dollar is the driving force in the market. When the dollar rises stocks simply deflate, and when the dollar declines stocks will simply inflate.
This inverse relationship between the dollar and stocks has been very strong for quite awhile. Until something changes and these two charts disconnect or decouple, the dollar must be followed. As of late, the stock market has still been weak regardless of the dollar. Therefore, the inverse dollar relationship with the stock market is reactionary and not proportional.
The ADP Employer Services report was looking for a gain of 60,000 private sector jobs and the report only showed a gain of 13,000. This was just more bearish economic news for the market, however the market is holding up so far at the open. We shall see if the stock indexes can hold up throughout the session as every bounce higher is being sold recently.
Tesla Motors Inc (TSLA) had a very successful IPO yesterday closing sharply higher than its offering price. Today TSLA is trading higher by 1.27 to $25.18. This stock may need to consolidate yesterday’s gain.
Spot crude is trading slightly lower to start the day at $75.82. The popular United States Oil Fund (USO) is trading higher by 0.08 to $34.26. Should the dollar pull back, oil may catch a bid higher.
Other commodity names trading higher are United States Steel Corp (X) and Cliffs Natural Resources (CLF). Both of these names are extremely oversold on the daily charts and can be due for a bounce.
The bottom line is the movement of the U.S. Dollar. Should the dollar dip, the stock market indexes will inflate and should the dollar rise the stock markets will inflate. Watch the dollar as it is still the most important chart out there.
About the Zacks Community
In 2008, Zacks Investment Research launched PeopleAndPicks.com, a stock-picking website where members of the Zacks community can test their strategies and share ideas with other members. Each user is scored on the accuracy of his or her picks, and top users are rewarded with free products from Zacks. Registration is free. To learn more about People And Picks, visit http://at.zacks.com/?id=5957
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3:1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it’s your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit From the Pros by going to http://at.zacks.com/?id=5958.
Follow us on Twitter: http://twitter.com/ZacksInvestment
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
Contact: Brent Billock
People & Picks Manager
Company: Zacks.com
Phone: 312-265-9307
Email: pandp@zacks.com
Visit: www.Zacks.com
