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3, 2, 1, Aaaaannndddd.... 8/7/20

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Jobs Friday. Tax data said for July said yooge upside surprise.  The as/of date is July 12.  

A recovery in withholding tax collections that began in mid June, ended in the last week of July. The one time annual tax windfall is now fini, and more spending is coming. Here’s what it means for the stock and bond markets.

Subscribers, click here to download the report.

KNOW WHAT’S HAPPENING NOW, before the Street does, read Lee Adler’s Liquidity Trader risk free for 90 days!

Act on real-time reality!

Meanwhile- This is a 45 minute bar chart. At 3:30 AM it's saying we're either at the bottom of this pullback, or half way down.  3335 is key hourly resistance trend. Liftoff if they clear it. 

tvc_a5409960c752713c8d2f9498cccc970a.png

 

 

 

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Jimi, thanks for the compliment, but as you know, I am but a dilettante at political analysis as well as a rabid partisan anti-fascist. 

I feel hopeful, and at the same time hopeless. 

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Should I admit to having bought some SPY in the pre market for a day trade? 

Nah. I'd jinx it. 

Besides it wouldn't fit my image. 

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10 minutes ago, DrStool said:

anditsgone. 

The jinx works again! 

T.H. Murrey of Murrey Math "fame" (OK so no one has heard of it or uses it except probably for me) once remarked to me that the 2 best analcysts in the world to follow are the one that's always right, and the one that's always wrong. Fortunately, you are far closer to the former than the latter.  🙂 

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25 minutes ago, PullMyFinger said:

T.H. Murrey of Murrey Math "fame" (OK so no one has heard of it or uses it except probably for me) once remarked to me that the 2 best analcysts in the world to follow are the one that's always right, and the one that's always wrong. Fortunately, you are far closer to the former than the latter.  🙂 

Thanks. Business is so good, I need to day trade to make a few extra shekels. And I HATE trading. I'm a nervous wreck when I trade, and I think it clouds my analcystitis.  

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Well, I've been "invited" by the Croatian Ministry of the Interior Police to file an application for a temporary stay permit. 

Sounds like they made me an offer I can't refuse. 

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26 minutes ago, DrStool said:

Thanks. Business is so good, I need to day trade to make a few extra shekels. And I HATE trading. I'm a nervous wreck when I trade, and I think it clouds my analcystitis.  

I don't know what it is about trading vs. predicting, but about 10 years ago, a friend of mine who was an excellent day trader started a stock market prediction service. Hired a publicist to make TV and radio appearances because she wanted to be a media star. She lost her ability to trade and abandoned the site after about a year. She is still frequently on Crapvision, Fox Business, Cheddar Business and such, touting herself as an "economist" and back to making macro predictions--I bet she still doesn't trade. I thought maybe it was the difference between making short term trades vs. trying to cater to subscribers that don't watch the markets all day, but whatever it was, her ability to trade vanished. Kinda like in the movie Tin Cup where Kevin Costner's character gets the shanks right before the U.S. Open. 

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