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Monday, December 11, 2023

Philstockworld July Trade Review – Too Bearish or Just Right? Part 2

8-2-2013 5-33-28 PM BEARSNow to wrap up July.

We had a great start to the month (see Part 1) with 42 trade ideas and only 2 that didn't work but, ahead of the review, I doubt we did so well in the last few weeks as the extent of the run-up took us by surprise.  Let's see how the rest of July played out

July 8: Monday Morning - Getting Set for Earnings Season

What's happening is the Corporations have gotten ruthlessly efficient at scooping up the profits as they move operations to countries where they can pay the least and pollute the most – shifting those costs to future generations while the American sheeple head off to Wal-Mart and buy items that ultimately cost them more jobs and even more money over the long-haul.

  • LTP and STP trades were made but a watch and wait day otherwise.

July 9: Testy Tuesday - NYSE 9,300 or Bust!

The NYSE gives us a clearer picture of the market and we need to take it's lagging performance very seriously but, on the other hand – we cannot ignore the glory that is Russell 1,010 either.  The Russell (see Dave Fry's chart) is another broad index of 2,000 small-cap companies (under $2.6Bn, over $130M) and they add up to just $1.9Tn – much easier to push around!  

But, faked or no, we have to play the cards we're dealt and this is day two of Russell 1,000+ and now we have 3 of our 5 Must Hold lines green on the Big Chart, which means we need to get more bullish.  Both the Dow and the NYSE have a very long way to go to catch up (5%) but, if the rally is real – that shouldn't be a problem for either of them.

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