The Stock Market is not responding much to the 5:30 GDP numbers. 4.1% is a big number, however, amazing it was expected.
How things have changed:)
The Nasdaq is leading the way this morning +.68% , with the other indexes slightly above the even market.
Of note, TLT, Metals, and the U.S. dollar positive. Financials negative.
This to me is a slightly negative premarket bias.
My FB trade yesterday ended with a slight gain. I was never underwater much and really never had more than a slight gain.
The big news today was the GDP numbers. They should keep the market from falling out of bed today, however, with TLT positive I suspect we may get some gap filing after the open.
The next SJW company to take a hit is TWTR. No over 10% this morning with their report saying more weakness to come.
This has been a bad week for SJW companies with FB take a monster hit of 20% and now TWTR. What they have in common is they are both social media companies and they are silencing conservatives.
It’s hard to imagine a public corporation whose job it is to maximize profits make decisions that risk losing almost 1/2 the U.S. population
That is the environment we are in right now. Be careful when you make medium or long-term investments in companies that have a goal to promote either liberal or conservative views at the expense of the other.
As we have seen, it does not end well for them. There are many more examples and one thing that has been consistent sooner or later their stock takes a big hit.
I will be looking for swing trades this morning and will post any trades I make on my private twitter feed @rickjswings. Its free so come to join me.
If you want to follow some of my trades along with my thoughts typically given after the open you can go to @rickjswings. Typically I talk about the overall day expected with the markets and also give some levels on the ES and NQ for failed breakout scalping.
It’s my private twitter feed for the stock market and its free. Sports Handicapping is the subscription-based part of this site. But considering the cost of joining it’s almost free:)
Good Luck Today
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