Accendo Traders Technical Analysis Weekend Wrap Up Trade Plan for Sunday, September 14th
Effective Video Technical Analysis Trade Plans Delivered Daily from AccendoTraders.com. Here is our Technical Analysis Weekend Wrap Up Trade Plan for Sunday, September 14th.
Wow what a week! From the government takeover of Fannie Mae and Freddie Mac. To the Preannounced Earnings Doom and Gloom for Lehman Bros and subsequent 77% drop in price. Then, there was equal concern about the capital strength and liquidity of AIG. On Wednesday, OPEC announced it’s cutting production by 500,000 barrels (didnt help the price of oil). Finally, on Friday, rumors once again continued to circle around the future of LEH after traders clearly expressed their displeasure with the announced restructuring plan.
Now on the weekend, we have the effects of Hurricane IKE to deal with. What does it all mean? Well, @ 6::00 pm today, DOW futures were down over 200 and S&P 500 futures were down over 50. Of course, tomorrow AM, a whole different story could be presenting itself. Did I mention we have the FOMC policy statement on Tuesday (yes, in case you were wondering, that’s my birthday).
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Tags: Aig, Amp, Array, Capital Strength, day trading, Different Story, Displeasure, Doom And Gloom, Dow Futures, Earnings, Fannie Mae, Fannie Mae And Freddie Mac, Flv, Fomc Policy, Freddie Mac, Government Takeover, Hurricane, Lehman Bros, Liquidity, Opec, Price Of Oil, Restructuring, stock picks, trade plans, Trading Strategies, trading system
September 14th, 2008 at 9:14 pm
[...] Original admin [...]
September 16th, 2008 at 1:05 pm
Hurricane Ike certainly has made picking a stock much trickier these days
September 28th, 2008 at 6:26 am
Also wamu might be jeoperdy. The psychology of trading today is very much similair to the consumers today. they just dont stop, they need to budget, to eventually steady their profits instead of losing it all.And gas prices are going to go back up very soon, because of this 700 billion bailout which is not going to help the american cinsumer.