Combing through news today and with markets rallying I figured to find lots of good news and volume today; but, alas, such was not to be.
Let’s see: the Empire Manufacturing Survey showed slight growth but was (ahem) below estimates; weekly Chain Store sales were down .7%; Homebuilder’s Confidence imploded; important stocks like Best Buy and Nucor sharply lowered forecasts. This was most of the news. What else was there?
Ah, Spain and Ireland successfully placed bond sales so the beleaguered and oversold euro rallied (one day Greece, next day something else); semiconductor stocks were racing higher on what must be either a short-squeeze or higher PC demand and that’s about.....READ MORE!
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