Friday August 29, 2014

$SPY  Opened a position with $TRN Thursday.  It had been on the cusp of being upgraded to a Long and did so mid morning and I moved on it. Thursday  was just an overbought pullback. Strong economic data is likely to bring in more buyers after the holiday weekend, keeping downside limited. We saw volume tapering off this afternoon. It could get quieter tomorrow. The weekly average trading volume has been running at 67% of the yearly average and there have been no Distribution Days for the past ten trading sessions.

For now, the stock market has been ignoring the geopolitics. We’ll need to see how things develop over the long weekend.

There's 'no way' market will crash: Acampora

"Wall Street loses ground on Ukraine worry" 

This could fluster stocks on Wall Street and abroad

Quartz: Something really important is starting to happen in the USeconomy. 

How Shiller is signaling 'significant upside' for S&P

"Stock futures up, indexes on track for 4th week of gains" - 

Bloomberg - Gold Falls 1st Time in 4 Days on Improving U.S. Economy 

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