Today’s action is somewhat expected. If the future direction is determined by how the earning shapes up, then, we did not get much hint today. That will change in the next two days.
Even though the volume is low, nevertheless, the picture was not pretty. It is true that the market is eventually determined by the fundamentals – earnings, macro economy etc—the chart provides a condensed view as how those fundamentals are perceived by the market.
Agriculture businesses are on fire, POT, CF, MOS looks like those shipping stocks of last summer. With headline news about food price unabated, there could be a sustainable buying in the near future. Of course, we all know how the Wall Street operates. All those stock will become a bubble eventually and crashed down to the earth.
Coal stocks have another good day as well. It may have something to do with the weakness of dollar.
Steel pulled back a little, but in a reduced volume, so, it still should have more upside to go.
Financial is in the dump again. Nothing is new there. It is still a sell in the rally sector.
Technology suffered too, but tomorrow may reveal more of the sector with intc earning after market close. So, I do not expect tech to do much during the day.
One thing interesting is Taiwan, it poped up after election, but did not do much ever since. With so much talk concentrated on economy ties with mainland, it should create a favorable enviroment for the stocks, so, maybe it is time to buy ewt and hopefully it could behave like a ewy of last summer.
My boss told me that we will let go contractors in my project. I guess that is one way to cut cost, but is it the sound way to turn the business around? I do not know, It certainly is a way to reduce pain. But whoever left will take more work, so, maybe it is better to get layoff
