TSG – Market swings take stocks nowhere

Dear Trader,

I was away yesterday so am posting the weekly on Monday. Matt
Caruso is taking August off and will post his next Intermarket
Report in the first week of September.

TSG Stock Market Letter
Week Ending August 1, 2008
Topics Discussed This Week:

* Rally goes nowhere
* Leaders on the upswing
* Q2-08 earnings show slight improvement
* … Dear Trader,

I was away yesterday so am posting the weekly on Monday. Matt
Caruso is taking August off and will post his next Intermarket
Report in the first week of September.

TSG Stock Market Letter
Week Ending August 1, 2008
Topics Discussed This Week:

* Rally goes nowhere
* Leaders on the upswing
* Q2-08 earnings show slight improvement
* Exports drive GDP growth but revisions turn Q4-07 negative
* Existing home prices down 16%Jobs still MIA
* Is the commodity bubble over?

It was a week of big stock see-saws as the Dow experienced big
down days, followed by up days in alternate fashion with a loss
of 52 points Friday. Overall, the index went nowhere on the
week. Similar moves occurred in the other major indexes as
investors went through bi-polar mood swings from one day to the
next – first depressed by bad news then euphoric when some
earnings reports came in better than expected. They even
celebrated when reports were not as bad as expected. But in the
final analysis, the housing market is showing little signs of a
bottom and it continues to exert a major drag on both the
economy and markets. As we learned this week, it is exports that
have so far prevented the economy from entering an official
recession.

But this is due to a weakening dollar prompting the obvious
question. What happens when the dollar begins to gain strength
in earnest?

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To read this week’s STOCK letter, please go to
http://tradesystemguru.com/content/blogcategory/34/68/
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