Wall Street Manna

An irreverent look at Wall Street

Wednesday, June 24, 2009

Dodo to a dove?

Roubini: U.S. Economy "sort of stabilizing."

5 Comments:

At June 24, 2009 at 8:30 PM , Anonymous X said...

So, do we rally into month end? Gun to my head, i would think so. FOMC was a major overhang and now its out of the way. Better PMIs, better tech results, better Q2 for financials, oversold conditions, VIX < 30, 200dMA support, overall supportive FOMC ... we should rally to month end

 
At June 24, 2009 at 8:56 PM , Anonymous Anonymous said...

Thanks X. Any guesses for after month end? :)

 
At June 24, 2009 at 8:57 PM , Blogger Palmoni said...

I'll take it!

 
At June 24, 2009 at 9:49 PM , Anonymous Anonymous said...

Consensus seems to be a summer slowdown/correction/consolidation. My view is what happens in July will be function of Q2 earnings/outlooks and July PMI data. If companies indicate June was better than April/May and if June/July ISM shows improvement, the market will rally to 950+spx. If the data is poor/mixed we could correct to 850spx. Either scenario, Consumer discretionary names will underperform but Materials/Tech/EM should do better.

 
At June 25, 2009 at 1:13 PM , Anonymous Anonymous said...

Wow but Palmoni and X sure nailed this month-end rally. Impressive :)

 

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