Commentary: Paul Ebeling On Wall Street
Some longs are holding up letting them run, as the overall market action in the S&P500 and DJIA as I see it is very negative. The Key index futures are across the board negative as I write.
Greece looks headed for default, people are worried about the Fed hiking interest rates out of this week’s FOMC meeting, and the Buck (.DXY) is volatile. Add to that the Noise from Wall Street’s financial media pundits.
Some stock are good longs and some are good shorts, the Key is to do your homework and ID the pattern set up. Remember, stock most often go South faster then they go North.
The Fed’s decision is a Key factor in the Wall Street action as we go into the Summer doldrums. If the market runs North on the FOMC announcement Wednesday, then prudence dictates selling into the rally, dry powder is good to have in this market I believe.
Remember, the name of this game is to make money, and there will always be a trade.
Have a terrific week.
Paul Ebeling
HeffX-LTN
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