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Trade Setups for May 25, 2010

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May 25, 2010 – Comments (1)

There is blood flowing in the streets this morning with the futures as European and Asian markets last night saw sell-offs in the range of 2.5-3.5% across the board. As a result, the Dow futures are down 225+ points, while the S&P is down over 27 points, and the Nasdaq is down over 41 points. The SEC might finally get the chance to try out those circuit breakers if things keep going the way they are going now.

Planned economic reports this morning include Durable Goods Orders at 8:30am and New Home Sales at 10am - but honestly, who cares? Neither of these two reports will have any bearing on this market, as it is all about the Euro and the economic collapse of European countries.

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1 Comments – Post Your Own

#1) On May 25, 2010 at 8:09 AM, Superdrol (97.24) wrote:

Great post.  Do you run a hedge fund SharePlanner ? There was an article just posted yesterday about the states/municipalities and their dire financial conditions.  I think anyone would be nuts to be owning Government back debt.  I know there is the tax benefits and the luxury of increasing taxes, but if anything I'd rather be in a CD or T-Bonds that have explicit guarantees from the Federal Government.  Or AAA rated corporate debt would be my preference.

 

Next support in the S&P-500 is 1,044 then 1,000....then it dosen't matter anymore lol.

 

I'm gonna sit this one out today.

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