First, an update on NVDA and SHLD. NVDA appears to still be caught in the grips of a massive downtrend. It is showing signs that it may be bottoming, but there is no way to be certain.
As of the close of this week, SHLD had a FAT PITCH going up on the weekly chart, indicating it has shifted into an uptrend. I will watch SHLD closely for an entry point on either the daily or 55 minute charts.
The Fed is now talking about the possibility of creating additional economic stimulus in the face of increased initial claims for unemployment, and a slowing of hiring. The Fed had been talking about an exit strategy - that is, a strategy that will allow them to take government money out of private enterprise and let private enterprise resume running itself.
The dollar is the weakest it's been in several months, and with payrolls shrinking things are not looking good for consumers. Corporations that export their products overseas to continents such as Asia and Europe, though, should be happy since this will point to greater profits coming in from overseas. Ultimately I have always felt that a weak dollar is good for American business, because it will allow us to become a nation of exporters again. This is because, if our dollar is weaker, other nations will find our products cheaper to buy.
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