Stock Market
All comments and Stock Market Ananlysis are made by Guy Brumley. Guy has been trading the Stock Market daily since 1992.
Trading, evaluating stock prices and predictions
Stock Market Commentary 7-13-2009
The market last Friday had its worst volume of the year. The summer doldrums are here, and much of the big money is on vacation. Hopefully, we get a peak into the backlogs of the fortune 500 companies, and can get a feel for the next six months.
The earnings and conference calls may give some indication of where we go from here. We need to have earnings, growth, and capital spending to bring our economy off its knees. Otherwise, we drift lower.
Intel announces Tuesday, with second quarter revenues expected lower by 24%. Thursday has IBM and GOOG, with IBM’s revenue expected 12% lower, and Google’s expected higher. Both stocks can be played using options this week.
We are entering the historically worst months of the year for stock performances. The months of August, September, and October have been notably down months.
The new high list was weak again Friday. One semiconductor stock symbol AIXG made the list, but its average volume is too low, at 37 thousand shares per day.
The SOX index is up 35% this year, but is also down 15% in the last month. So much for percentages. If this is supposed to lead the market back, it may be worth looking at options.
The Brazil ETF is EWZ. Its chart looks similar to the SOX.
Options expire Friday; look for one-day pretty, followed by one-day ugly. Be quick with your trades.
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