As anticipated equities have been running in circles this week and barring a major market moving event we most likely will close inside the weekly expected range. With the meat of the summer season still ahead of us the immediate implication for traders is that directional strategies will suffer – unless of course you keep betting on big tech.
I will be at the hospital early Wednesday to get poked with needles, so I’m posting this ahead of time to keep my hardcore crew entertained. Unfortunately there’s really not too much to add to Monday’s post at this time. As expected we are seeing a lot of gyrations but without any sense of direction. Is that about to change anytime soon? Probably not.
Independence Day marks the onset of the summer vacation season, although to a much lesser extent in 2020 due to global travel restrictions. While I’m stuck in the sweltering heat of Spain Tony managed to plot his escape from Chicago to some camping ground near Kern River, CA. I have very nice memories visiting there and one of the main advantages is that Sequoia National Park with its higher elevations and cooler temperatures is only three hours away.
I rarely hazard lofty predictions as most attempts in foretelling the future usually end in tears followed by monetary losses. But having been around the block a few times I do pride myself in recognizing a glaring bear trap when I see one. Which is why I offered this to my intrepid subscribers last Monday: