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Quick Hit: Pervasive Negativity!

August 31, 2010

by David Moenning

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Pervasive Negativity!

The primary theme evident in the pre-market is the pervasive negavity that has taken over the globe. It's as if everybody, everywhere already knows that every single piece of news that is about to be released this week (and there is a lot of news on tap this week) is going to be bad - very bad. Hmmm... while I understand the doom-and-gloom, as Ned Davis is famous for saying, "something that everybody knows isn't worth knowing." Thus, the contrarian in me is starting to sit up and take notice... I'll be tempted to nibble on the long side into a whoosh lower with the swing trading portion of the PRO once we get started on Wednesday...

  S&P 500 - Intraday
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All the Best,

Dave M.
Chief Investment Strategist

 

Disclosure - Mr. Moenning and/or related companies own positions in the following stocks mentioned: none

  S&P 500 - Last 3 Months
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