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Shanghai Stimulus
Good morning. Premarket futures are pointing to a slight positive open following a big rally in Shanghai upon hopes the government would soon introduce a large stimulus package to boost their slowing economy. As for the U.S. equity market, this morning investors are weighing better than expected earnings at Hewlett-Packard, rising oil prices ahead of the government's weekly energy report at 10:35AM, and Goldman Sachs' latest view of the financials. Premarket gainers: PAY, OMTR, MENT, NG, RTLX, NGAS, FED, ZOLT, LFC, ACH, HPQ, GILT, PDO, CHL, USEG, STP, OTEX, NVDA, SOLF, CSUN, PDLI, RTP, & PBT. Premarket losers: NVTL, JKHY, CPL, LCC, UAUA, NWA, BCS, AMR, QGEN, ARAY, OSTK, ADI, & ARAY. Overall, premarket trading has been fairly lackluster and without a lot of volume and that is likely to carry over into today's trading session. Higher oil prices, especially following this morning inventory report, would provide some headwinds for any rally attempt and if the counter trend bounce from July is to hold, we need for the S&P to hold the 1250 support level on any additional sell pressure we see. Have a wonderful Wednesday! by Charles E. Kirk (The Kirk Report ) Disclaimer: Please note that charts and commentary provided by the moderator are for educational purposes only. Any trades placed upon reliance on the moderator’s charts or information is taken at your own risk for your own account. Past performance is no guarantee of future results. While there is great potential for reward trading stocks, futures and options, there is also substantial risk of loss and you must decide your own suitability to trade. Future trading results can never be guaranteed. This is not an offer to buy or sell stock, futures, options or commodity interests. Most trading systems are based on historical formulas which have worked in the past. However, what has happened before may or may not happen again. You can lose all your money trading stocks, futures, and options and you must decide your own suitability as to whether or not to trade. Only trade with true risk capital you can afford to lose. Only trade markets you can properly afford to trade. Properly funded trading accounts typically perform better than those that are not. Never risk more than 2-3% of your account on any one trade. Always define your risk before entering a trade and place a stop to limit your risk. There are no guarantees or certainties in trading. Trading involves hard work, risk, discipline and the ability to follow rules and trade through any tough periods during a system’s draw downs. If you are looking for a guarantee, trading is probably not for you. Most people lose money trading. One of the reasons is that they lack discipline and are unable to be consistent. A system can help you become consistent. Ironically, worrying about the monetary aspect of trading can contribute to and cause a trader to make trading errors. Therefore, it is important to only trade with true risk capital. |
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