8/16/2013 Morning Blog

Friday August 16th 9:09 AM Posted in: Daily Blog

This market is flat as flat can be before the open. Typical market corrections such as we are in now rarely end on a Friday. I do expect the market to pop up for expiration and fall before the close. Turmoil in Egypt and the economic numbers may play a major role in direction.

 

Green Mountain Coffee (GMCR) will be added to the Nasdaq 100 on 8/22, this caused a 2% increase in the stock this morning.

 

John Deere (DE) is starting to look good on a chart formation as I will show in the feature chart. A close above $85 would show strength

 

Remember not everything you here on the business channels is good for your trading, all commentators have an agenda, could be to sell out after running it up or buy cheaper after running it down. Too many people put all their faith in that one commentator that strikes a cord with your trading.

 

Secondly, as I have mentioned before in this blog it is you against everyone else and many of them have far more money than any of us will ever have.

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