Entering text into the input field will update the search result below

Mid Day Trading Update – The Toss Up

Jul. 30, 2013 1:51 PM ET
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.
Mid Day Trading Update - The Toss Up

DATE: 30 JUL 2013 /



Well folks, with 3 major economic events scheduled to be released tomorrow, it's anyone's guess where the market goes in the short-term. There's GDP, ADP & FOMC tomorrow, and all of these reports are market movers. Those planning on holding positions through Wednesday's premarket session would be wise to think about the risk a few times.

So far the sentiment underlying the markets is still quite bullish despite the choppy environment. Google, Apple & Facebook are making significant moves higher thus far in the session and we'll see if they continue on their current path by the end of the day. Financials are continuing to act very stale and the lack of movement is more indicative of a future market rally than a sell-off. What we're seeing today as we go into the afternoon hours, is a lack of selling pressure across all sectors when the indexes push lower.

Many people are speculating on the possibility of the FED putting forth a plan to slow down the current QE programs. The reaction is expected to be negative if that is the case but putting on a position prior to these announcements is not going to be easy. News algorithms will be pushing the indexes both ways and deciphering the correct direction will take time.

Big moves for the day here was this Apple (AAPL) & Google (GOOG) long which we will try to showcase later on tonight.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.