Futures are slightly red as I write this, which means much of nothing. For the real story about this market, check out this weekend’s Weekly Strategy Session, which I just sent out to members (click on that link for more information).
Keep an eye on some steel stocks this week, as AKS has been punishing the numerous shorts in the name. Earnings are coming up at the end of the month, though, which is a good reminder to check earnings for all of your current and prospective holdings.
I would imagine the Nasdaq’s numerous marquee names reporting earnings this weekend and beyond should be a crucial moment for the market into the end of summer.
What are you looking at this week?
https://www.youtube.com/watch?v=ypMBk8FpVy0
How do you like the look of CLF? It seems to find its way back to $18-$19.
I expect we are going to see the blow off top, and that it will go higher and longer than anyone has forecasted. My .02
Like STLD in the same group but they report earnings tomorrow AH. Might do a daytrade above 18.64. Also looking at QCOR, SMCI, UNXL, EOX
Saw quite a bit of steel heading east via Union Pacific as I drove from El Paso to Tucson this morning. I always am on the watch for what’s moving. Not too many employees at the ArcelorMittal plant, but it’s Sunday. They did have a crew with bulldozers filling dump trucks from a mountain of ash next to what I believe is their Electric Arc Furnace, so something is happening there….
Twitter!
AAPL had better impress
The long awaited “correction” would screw the most players right now.
Looking for one more minor wave down to complete this correction followed by the last wave up to new highs for Primary III. Once that is done (late Aug-early Sept) then prepare to go short for Primary IV and a 10-15% correction.