Tuesday, July 3 Market Assessment
I'm Excited About July!
After two weeks on the road, it's good to be back on the trading desk. Interestingly, not much happened while I was gone, unless you count the over-hyped launchings of Blackstone and the iPhone as important, which I do not.
On June 12, the S&P closed at 1515, on July 2, it closed at 1519. Wow!
But, I believe we have gotten into something we sailors call "clear air", after several weeks of knocking back and forth in rough water. My prediction is that we are going to see a very strong set of quarterly reports from Big Cap International companies, which will propel the market up strongly in July. I'm looking for 1540 on the S&P and 4640 on the NASDAQ.
Later this week, I'll name some of the companies I am expecting to produce blow-out numbers. Stay tuned.
Summary: Short term bullish, Long-term bullish.
posted by Sun Tzu @ 9:42 PM
1 comments
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