- New Trades -
(July 20, 2014)
I am suggesting caution when it comes to launching new trades this week. It is true that the U.S. large cap indices managed to post a gain last week in spite of all the geopolitical headlines. That could be interpreted as bullish.
This week the market will be digesting the aftermath of the downed Malaysian Airliner and the ongoing Israeli ground offensive into Gaza. Investors will also be wading through a tidal wave of earnings news.
The week ahead will be the busiest yet for Q2 earnings with over 550 companies reporting their quarterly results. These results and corporate guidance could set the tone and the market direction for the weeks ahead.
Therefore we are not adding any new trades tonight.
I will note some of the stocks on my radar screen and their earnings dates.
-symbol, (earnings date)-
AAPL (July 22)
GILD (July 23)
ALK (July 24)
XRX, (July 25)
LVLT, (July 29)
FISV (July 29)
TRN (July 29)
COST looks interesting but I'd like to see a close above resistance at $120.00.