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Data released today (Wednesday) shows that unemployment continues to rise
unabated in the Euro Area, and now sits at 11.6%, as shown on
the graph below. It's been rising since the lows in 2007 and is well above the
levels seen in January 2000. For details of the report, click here.
So far, the ECB's LTRO 1 & 2 programs have
not resolved the unemployment problem in the Euro Area…for that matter,
neither have the actions of the EU, to date.
Often times when I'm searching for the day's lazy trades, I end up making one or both of the trades as I write the post. That has happened once again today by getting short on Express Scripts (ESRX) at $61.51.
The other pick is one I've tried for a while now to time correctly, and that is McDonalds (MCD) which is now forming a triple-bottom pattern after failing to confirm the cup and handle pattern it had been developing before.
With the new short in ESRX for me that brings my portfolio up to 2 shorts and 1 long positions
Neither of the 3 do I plan on selling, and based on how this market is behaving today, I wouldn't be surprised if we get one final push lower before this market closes for the day.
Here's the trade setups on today's Lazy Trades:
LONG: McDonalds (MCD)
SHORT: Express Scripts (ESRX)
Be sure to check out other Swing-Trades from Ryan at SharePlanner.com
Yesterday, I was at a grocery store – – one I don't normally go to, and one which sells popular magazines. I almost never see magazine covers these days, so perhaps I'm simply out of synch with popular culture, but I gather that men grinning like idiots with their mouths gaping open is considered profoundly appealing. I offer this evidence:
Excerpted from the October 28 edition of Notes From the Rabbit Hole (NFTRH 210)
We are wrapping up October with markets far and wide in the midst of corrections of varying degrees.
The US stock market is following some old clichés in that it
apparently hates the uncertainty of the upcoming presidential election
and well, it is the spooky month of October after all. The market has done everything it was supposed to do this October and the correction is not yet indicated to be over.
