Friday, 26 July 2013

Dan Stewart's The Wall Street Shuffle - July 26, 2013

A NorAm Media Group Publication - Celebrating our 53rd Anniversary  Friday, July 26, 2013

Could SAC Capital Be a Black Swan
by: Dan Stewart

The markets have become more choppy recently. Earnings have been mixed and the economic data is showing a slowdown in the U.S. economy. Yesterday the DOW and the S&P 500 spent most of the morning in the red, but then reversed finishing moderately in the green. The NASDAQ had a much better day due to Facebook's (FB) strong performance after a big earnings surprise to the upside.

Total volume was down slightly on the NYSE but higher on the NASDAQ thanks to FB. Up Volume was 59% on the NYSE and 70% on the NASDAQ. Advancing issues were 56% and 66% respectively.

Now the markets are technically overbought but investors seem unwilling to sell yet. And the midterm trend remains strong. Weak earnings could shake the markets.

So I intend to simply...

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