What to look for before the weekend
Stocks woke up and smelled the economic numbers and took an expected dive yesterday. With all the backing in place stocks when on a profit taking run which was really expected for today, Friday. With tech’s bubble bursting look for a possible continuation of profit taking and stocks slipping. Profit taking or value buys with long term expectations could be the play today but the market might have already had its correction moment for the week yesterday so stocks might close in positive territory today. Be ready to go either way at a drop of a dime.
Bonds will get a chance shake off the cob webs after the recent pounding they have taken but it still looks bleak as job data sent bonds down yesterday. There could be some value to be gotten but not likely. I think Bonds might have an early rally today but might close down again.
Hurry for the Dollar as it has seen some gains in Europe overnight. I hope you got in at the right moments because it seemed like a good place to go long, the late session today is still a good time to get in. Retail data, the holiday season with jobless rates down could drive the dollar up for the rest of the year. It’s a good buy long term, but how long is still unknown. Keep an itchy trigger finger on selling it still.
Have a great weekend.
