daytrades july 14 afternoon, page-27

Thnks Endless,Tweets,PJ,Wilson,Kaya and Kevi


Professionals comments

US MARKET

William McDermott, managing director at Morgan Joseph: "The market was oversold on the fear and panic regarding Europe and the threat of contagion. Now a few earnings reports and guidance have turned things around."

However, he said that a lot of the rally has been about traders and funds jumping in and deciding to follow the momentum for the short term. Whether the rally is sustainable will depend on the earnings forecasts and continued news out of Europe in the upcoming weeks.

http://money.cnn.com/2010/07/13/markets/markets_newyork/index.htm

Jay Suskind, senior vice president at Duncan-Williams Inc: "Two weeks ago, the path of least resistance was to the downside, and now we can't find anything negative. The caveat is the [trading] volume is kind of light. It all boils back to earnings and what the forecast is for the second half of the year. If no one comes out and says things are terrible, it could be a quiet July,"

Fred Dickson, chief market strategist at Davidson Cos: "Intel's earnings report should give investors a better picture on both the state of the personal-computer demand and whether demand for IT products continues to expand, in spite of recent evidence of a slowdown in the growth rate of the global economic expansion,"

http://www.marketwatch.com/story/earnings-optimism-bolsters-us-stocks-2010-07-13

AUSTRALIA MARKET

Shaw Stock broking senior dealer Jamie Spiteri: "We've had basically almost a week of consistent improvement across the banking sector. We're seeing a bit of rebalancing, or repricing, basically taking place across the market. We're still seeing general activity and volumes on the lower to modest side. There are a range of different points of caution out there still, despite the fact that the market has improved off its lows."

http://www.theage.com.au/business/markets/banks-miners-lead-market-higher-20100714-109rh.html

TRADE AND EGO

Occasionally I let my ego get the top of me. It happens to the best of us. I make a few grand trades and I feel like I am running the market. Unavoidably, though, the market will give me an evil lesson in unassuming nature. It is up to me whether or not I get my personality back in ensure and keep trying. Always remember, I am not in control.