July 15th, 2013

Really slow news day and not a whole lot happening, but then again it's rare to have an action packed day during the summer anyway.  Most indexes posted very small gains, and appear to be topping out in preparation for a short-term fall.

News items for the day include China reporting a 7.5% advance in their country's GDP, which was in-line with estimates.  Citigroup, one of the largest banks in the country, posted better than expected profit and revenue for the most recent quarter.  This is a good sign for the banking industry in general.

On the whole though, most of the market was quiet and seems to be waiting in anticipation for a possible short-term dip.  I'm still bullish long term, but short term (ie: the next month or so) I think we'll see stocks dip.

Oh and just to take another look at BMY to see if my prediction of it going down will come true...