Hey friend,
200,000 Americans filed new unemployment claims last week, versus the 195,000 economists expected.
Existing-home sales came in at a seasonally adjusted annual rate of 3.75 million in October, versus a forecast of 3.8 million.
That was the slowest pace of home sales since August 2010.
Tomorrow morning brings the producer price report, our next look at inflation after Tuesday’s hotter-than-expected consumer prices.
The Daily Direction
The Daily Nugget
Getting the market right is only half a trade.
Say you called the chip rebound four days ago.
Which stock did you buy?
That’s usually where the story gets a little thin.
Maybe you bought one of the chipmakers that took off.
Or maybe yours barely budged all week.
You can be right about chips either way.
Trouble is, it’s easy to hang on to the wrong stock when the rest of the sector keeps going up.
Every green day for chips makes you feel a little better about holding it.
Meanwhile, the buyers you were counting on keep showing up in somebody else’s stock.
You can catch some of this before you buy.
Pull up the stock alongside the sector and go back to the last day chips sold off.
When did buyers come back for the stock you picked?
If they were already bidding it up while the rest of the group was still falling, you’ve got a reason to look closer.
If it took a rally in practically every other chip stock to get yours moving, why buy that one?
That’s a question worth answering while the money’s still in your account.
The Traders Agency Team
