Sunday, October 29, 2006

Weekly look ahead

Pulling together bits of information last week led me to suggest an increasingly choppy market, and I announced I was selling calls on broad index postitions. That turned out to be downright psychic as the market promptly turned south (so once again I hope you invested with me!).

An analysis of last weeks economic data suggests that the market may be cresting, and this week brings plenty more government reports to crunch.

Ultimately, however, the short term behavior of the market will be driven by earnings. Last week most of the big stocks put in good showings, and this week brings more headline companies as well.

With strong earnings there is no reason the market cannot go higher in the short term, but if the economic indicators don't perk up we should not expect the market to be higher in 6 months.

Invest well,

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