Online Stock Trading | Dow Jones 14,000 watch is on, stocks end lower on increased trade

Dow Jones 14,000 watch is on, stocks end lower on increased trade


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Market watchers have now turned their attention to the Dow Jones Industrial Average’s attempt to eclipse the 14,000 market for the first time.  The mark is more of an emotional signficance than anything else as you will see CNBC parade their ticker around.  At any rate, this “watch” kept the dow positive while other indicies notched a distribution day.  The only economic news of the day was the Empire Manufacturing number rising to 26.5 when estimates pinned the index to be at 15.  No doubt the slumping, wilting dollar is helping US manufacturers.  Not a terribly exciting day, this is after all summertime.

Today’s selling appeared to be tame and did not seem to pick up much steam throughout the day.  We did notch a distribution day but the count of distribution stands at:  3 for NYSE & NASDAQ and 2 for S&P500 and the DJIA.  Professional money managers may not be entirely in this market or short but they weren’t able to sell the market hard today. 

Lots of economic news coming out tomorrow, lots of PPI data.  Should show how the inflation front is doing.  Look for market reaction to the numbers.  CNBC will surely be all of the numbers with their “expert” market analysis.  Watch how quickly once trade begins how these numbers will be forgotten.  Here is a look:

Date Time (ET) Statistic For Actual Briefing Forecast Market Expects Prior Revised From
Jul 16 8:30 AM NY Empire State Index Jul 26.5 15.0 17.0 25.8 -
Jul 17 8:30 AM Core PPI Jun - NA NA 0.2% -
Jul 17 8:30 AM PPI Jun - 0.2% 0.1% 0.9% -
Jul 17 8:30 AM Core PPI Jun - NA 0.2% 0.2% -
Jul 17 8:30 AM Core PPI Jun - 0.2% 0.2% 0.2% -
Jul 17 9:00 AM Net Foreign Purchases May - - $72.0B $84.1B -
Jul 17 9:15 AM Capacity Utilization Jun - NA NA 81.3% -
Jul 17 9:15 AM Industrial Production Jun - 0.4% 0.5% 0.0% -
Jul 17 9:15 AM Capacity Utilization Jun - 81.5% 81.6% 81.3% -

Here is a speculative play for you home gamers.

TCX
TCX does not show the great characteristics of a growth stock but is within a hot Industry.  The Internet Information Provider industry is really hot.  Other stocks within this industry:  NILE, GSOL, PCLN, EXPE, AMZN.  Watch for earnings with TCX as they are the weakiest link.  Not too mention this is a stock that is well below 5 dollars. 

Best of luck out there, we’ll see if selling can gain any strength tomorrow.  In the meantime, we are still poised to go to the upside.

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