In breaking news this morning the White House is calling in Austin Powers and The Spice Girls. A government spokesman reported this morning that they had lost Tony Hayward’s phone number and couldn’t track him down on Facebook. Although Posh Spice has publicly stated in the past that she has never read a book from beginning to end in her life, the White House is confident that she will be an integral cog in the wheel in their effort to reach Hayward. Good luck to all.
It should be an interesting week and maybe the market will tell us if it want’s to fish or cut bait. Last week, The S&P 500 climbed 2.5% as all ten sectors gained. Cyclical stocks outperformed as Energy climbed 4.3% and materials gained 4.3%.
Markets benefited from positive overseas economic news. Chinese exports surged 48.5% y/y and Australia’s unemployment rate declined to 5.2% as the country added jobs.
The Russel 2000 is the only index that is up for the year and it will be telling if it folds like a tent and follows the other indexes lower, as the rest are all down for the year.
May performance is finally in, and although the DOW had it worst month since 1940, down about 8%, the subscribers on my Premium Site had a good month.
The average trade netted about +1.2% with a total return (total sum of ALL trades) was about +77%. This does not include 3 option trades which were all 100% returns.
If you are not a subscriber and would like to see a breakdown of each trade, please e-mail me at [email protected] and I will forward the results.
Have a great week!!
What’s On Tap For Today