The Day Ahead: Ear Firmly to the Ground
Plain and simple: Expect to have no life this week -- and, if this describes your typical week, be prepared to really man the trading station. Maybe I am just sharing what my plans are for the week ahead. Gone will be the extra attention paid to a single macro piece of data. Gone will be my attempts at deciphering why investors dumped JPMorgan Chase (JPM) and Wells Fargo (WFC) following their earnings results last Friday -- which had me wondering if this was solely due to strong whisper expectations, or whether Mr. Market had done its "sniff test" and decided to sell the news rather than revel in bullishness.
The entire setup to this particular earnings season already feels peculiar to me. New information from companies is getting lumped into a month-long stretch of negative macro surprises, along with this view that the first quarter was thanks to the magic of Mother Nature rather than to true animal spirits (imagine Robert Shiller's face here). To steal a line from a 1980s rap tune, "come correct" on Monday with eyes opened and ear to the ground, as I believe this is the week that could set the tone for trading for the rest of April....1081 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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