Friday, May 9, 2008

Friday, 9th May

We look forward to Friday, May 9th at 8:30 ET for the Trade Balance to be released: The U.S. imports more goods and services than they export. This data is released for two months prior, so Friday's release covers the months of March and April. Economists look at the trade balance to gauge strength or weakness in world economies as well as the U.S. It would be bullish if both imports and exports were to expand, but even more ideal if the import/export gap began to shrink. POTC continues to believe the strength in foreign currencies, particularly the Euro-dollar will act as a fire starter by the time the leaves turn in Fall 2008. And for the last very important forward-looking psychology nugget: take profits on Friday, as Monday, May 12th is very naked, bringing NO market moving economic data or market moving earnings releases. Usually Mondays in May are slow and boring, especially when they are void of economic and earnings data, so set your trades up accordingly. The Psychology of the Call wishes all a nice weekend, please visit us tomorrow night for next week's "Upcoming Psychology".

1 comment:

Anonymous said...

S&P 1,388 looks like a very good call on your part!