Morning Es Trading
Two weeks ago, the world was set to collapse as our Washington brain trust was finding it impossible to agree on anything, and while the fiscal cliff was averted, now we must deal with and prepare ourselves for a battle over the debt ceiling. Long-only mutual funds may be anxiously awaiting the next secular bull market, but I simply want the secular bear trend in political leadership (on both sides of the aisle) to end.
Political nonsense aside, could there be any better day to return to work than one where traders are set to receive the non-farm payroll monthly data at 8:30 a.m. EST, and both factory orders and non-manufacturing ISM at 10 a.m. EST? I don't think so. This should go without saying, but remember to give more weight to how the market reacts to the employment figures (via price movements) than to the data itself. We don't make a penny by accurately guessing how the numbers will come in. Our wallets are only fattened based on our ability to read and react to how the day's auction is unfolding....206 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.