Business Magazine

Monday Market Movement – Futures Can’t Hold Gains

Posted on the 22 June 2020 by Phil's Stock World @philstockworld

Monday Market Movement – Futures Can’t Hold GainsFirst you go low on high volume, then you go high on low volume.

That's one of the tricks "THEY" do when "THEY" want to reel in retail suckers to take stocks off their hands at high prices.  Keep the headliners like Apple (AAPL) rolling up the market while doing massive selling like we saw into Friday's close – a 100-point drop in the S&P 500 (3.2%) during the trading session but then a 60-point "recovery" when the markets closed and there was no volume – a time when it's MUCH easier to manipulate the markets, as well as the news.

Yes, we used to only have to worry about fake Financial News, the kind Jim Cramer boasts about routinely placing in this video.  As Cramer says, if you are running a hedge fund and you are not manipulating the markets – you're just not doing your job.  If you think that's not true today – just look at that action on the S&P and read the headlines of SOME papers and you tell me if we're still being manipulated or not.

Image
Does what you hear about the markets and the economy make sense when you walk on empty streets and eat in empty restaurants?  Will it makes sense when we get those quarterly reports for Q2?  Does it make sense when you look at the Atlanta Fed's GDP Now forecast, that shows Q2 (the one we just finishing next week) GDP is projected to be DOWN 45.5%. 

I know not all of you are Economists but I'll save you 2 years of graduate school by saying down 45.5% is BAD!  What's also bad is that the average range of pundits is more like -35% so the public is in for a big disappointment if the Atlanta Fed is right and the random idiot on TV is wrong.

We get the final GDP Report for Q1 on Thursday (8:30) and that will be down 5% with Consumer Spending down 6.8% and that only reflects the last two weeks of March when we were locked up (hey, Trump did it, he locked us up like he promised!).  If we were down about 50% for two weeks and the other 10 weeks of the quarter we


You must login to see all of Phil's posts. To read the rest of this article now, along with Phil's live intra-day comments, live trading ideas, Phil's market calls, additional member comments, and other members-only features - Subscribe to Phil's Stock World by clicking here.
To signup for a free trial membership, click here.

Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!

Back to Featured Articles on Logo Paperblog