I’ll post the daily Market Report and Market Analysis
after the close. Here’s some news…
JOBLESS CLAIMS (Briefing.com)
“The initial claims increased to 311,000 for the week
ending August 9 from an upwardly revised 290,000 (from 289,000) for the week
ending August 2. The Briefing.com consensus expected the initial claims level to
increase to 305,000. The continuing claims level increased to 2.544 mln for the
week ending August 2 from an upwardly revised 2.519 mln (from 2.518 mln) for
the week ending July 26. …If claims stay at its current range over the next few
weeks, the sudden drop earlier in the summer can be conclusively blamed on poor
seasonal adjustments. If this week's increase in claims is a one-time blip,
then the labor market may be truly repaired.”
Charts and more at…https://www.briefing.com/Investor/Calendars/Economic/Releases/claims.htm
I’LL WORRY ABOUT THAT TOMORROW (CNBC)
Art CAshin noted that there have been so many false calls
on the market that Mr. Market is now in a Scaltett O’hara syndrome: “I’ll worry
about it tomorrow…Regarding where the market is headed he said, “If they get it thru 1958, they could make a try at
new highs…’ Videao at…http://video.cnbc.co/gallery/?video=3000302277&__source=yahoo%7cheadline%7cquote%7cvideo%7c&par=yahoo
EUROPE ECONOMY IN TROUBLE AGAIN (Mike Shedlock)
“The recovery in Europe, not that there was ever much of
one, is now over. As expected in this corner, Germany Contracts and France Stagnates in Second
Quarter.” Commentary at…
http://globaleconomicanalysis.blogspot.com/
RELIGION OF DOOM AND GLOOM (Financial Sense)
“Welcome to the doom-and-gloom “financial-tainment”
industry, which, having exploded in popularity ever since the 2008 financial
crisis, will say anything to grab your attention. If a sensational title with
limbic-priming powers doesn't work, throw in stimulating visuals of nuclear
explosions—that always does
the trick! Commentary at…http://www.financialsense.com/contributors/fs-staff/gloom-doom-religion
It’s tough not too get caught up in that. Now more than ever investors seem skittish and responsive to fear. That has caused big swings in VIX and has played havoc with the NTSM VIX indicator. It isn’t without costs though. Those Options bets on swings to the downside (reflected on the VIX) will be losers if there is no downturn.
