Daily Market Update – September 8, 2016 (7:30 AM)
It didn’t take too long to make a trade yesterday, but there’s not much reason to think that today would be any different.
The trade yesterday wasn’t really expected, either, as the market nor the stock had any particular movement.
That’s just been the pattern for the past month, although some individual stocks have had some eye popping moves, mostly on the heels of earnings.
The market, though, has been mostly stuck in quicksand.
It doesn’t look as if there’s too much reason for that to change for what remains of this week and maybe not too much reason next week, as most are looking another week into the future, as the FOMC convenes.
This morning came a lone voice who not only doubted a rate increase in September, but also doubted one in December.
Most everyone else fully expects one to come at least by September.
If that lonely guy is right, I suspect that the market will quit its celebrating the continuance of cheap money and finally start what’s wrong with the money making machine that’s supposed to be our economy.
If rates don’t move higher in September, there may still be some partying ahead, but at some point someone is going to start asking the questions that are really long overdue.
That same person might ask aloud why the stock market has reacted positively when oil has moved higher.
Those two questions are a bad combination if anyone stops to think about it.
With trading volume still so low, there is time to think about those things.
This morning the futures are again flat and some may be scratching their heads to ask questions, but it doesn’t seem likely that anything severe is in the immediate works.
At this point, I’ll be happy if I can get my 2 expiring positions to either contribute to my weekly income flow or contribute to cash reserves.
One of each might be especially nice.