Tuesday, May 6, 2008

Tuesday 6 May

We look forward to a ‘naked’ Tuesday, May 6th (NO economic releases scheduled). "Trend Setting Tuesday", as old Wall Streeters refer to it often sets the tone for the entire week. Perhaps the lower close on Monday will influence Tuesday's trading, as no market moving earnings releases are scheduled before the open. BUT, POTC sees Tuesday's morning and intraday sell-off being erased by a closing rally! POTC feels the stock market rally will have reflected the good earnings and guidance after market close from Cisco Systems Inc (CSCO). Please click on the live CC link in the left margin to hear one of the most highly regarded CEOs to ever lead a publicly traded company. The legend that is John Chambers is taken very seriously when he speaks. His optimism and honesty with regard to macro economic trends usually translates to market rallies. Be careful as a result when setting up your trades for Wednesday; a bullish bent would be wise. Another reminder the CNBC Million Dollar Challenge starts next Monday May 12th. You can have as many as 5 different styled trading accounts; good luck to all our readers: http://contests.cnbc.com/milliondollar/main.do A great day to all, the Psychology of the Call team.


Anonymous said...

Yahoo opened hit sub-$23 on Monday. You would've been stopped out by your 15% trading rule from your recommendation.

Anonymous said...

Actually, no. As we've stated before we don't pay attention to intraday swings; we consider the closing price only. If YHOO closes below $23.59, consider it sold. Thanks for the input.