Market Summary
Moving the Market
Weekly initial claims: 339K actual versus 370K expected. Prior week revised to 369K
Continuing claims: 3.273 million versus 3.288 million prior
August trade deficit: $44.2 billion versus $43.6 billion expected. Prior revised to $42.5 billion
September export prices ex-agriculture: +0.7% actual versus +0.4% prior
September import prices ex-oil: +0.2% actual versus -0.2% prior
PPI (8:30): Briefing 0.5%, consensus 0.8%, prior 1.7%
Core PPI (8:30): Briefing 0.1%, consenus 0.2%, prior 0.2%
Michigan Sentiment (9:55): 80.0, consensus 78.5, prior 78.3
Treasury Budget (14): Briefing -$75.0B, consensus -$75.0B, prior -$62.8B
Oh well... I sort of got the direction right... but market just washed down after that despite all that gains... Luckily i took my profits at the opening bell... That clearly shows how much confidence the bulls have... I'm getting all ready to short already..
Market Internals
Leaders and Laggards
Not much changes in the sectors but telco was the biggest laggard... On the side note, Sprint is talking to a Jap telco about some 'massive' investment, on a possible buyout.
Technical Updates
Commentaries
Commodities
Treasuries
On the treasuries, the 10 year and 30 year has been selling off... like i said the money is flowing out... somewhere...
Based on the economic report coming out on Friday, the Consumer Sentiment and PPI is going to be the mover..
However, given the fact that the bulls refuse to come in despite good economic report... This week is going to be a down week..
Market Call: DOWN
Date: 13 Oct 2012
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