Money supply is up which is good news for the markets. However the market is trading sideways as unemployment and cost cutting techniques both remain to be issues. The market may have a little more upside but I do not believe job s will start reappearing anytime soon. Also, other countries may start going bankrupt which could create fear. Where the jobs Obama?

The Yen could break out over the next few days and is currently trading at 1.13. The stock market wants to make a bullish move but is still worried about jobs and factory orders. My idea to take lottery winnings and create more slot machines at airports could really help the American people. Where else can we get significant amounts of money without taxing the consumer. Tax the rich! Well, in all honesty that’s stupid because they are the only people buying stuff. It is scary how much revenue is created after the government taxes lottery winnings. I think this should be investigated further. We can pay healthcare bills for the entire U.S if we make a big lottery donation.

Consumer confidence numbers were expected to be around 55-56 and came in at 46. Let’s talk real for a minute. The big banks, hedge funds, and traders do push their weigh around in the market and can set markets up or down. However, we the people the consumers run the show. If people are not spending money the market should sell off. These swings could go on for a few years which can even effect the technology sector of the market. This sector in my estimation is overbought and could sell off in the near future. Google and Apple are doing well but what about everyone else? The amount of money many companies spend on research and development may have to be cut back if consumers limit spending habits.

 Its scary how the Fed can be profitable yet they can’t find jobs for a couple million people. I believe it’s their American duty to create jobs no matter what the situation is. Those that are out of work should be able to put their resume in to see if they have the education requirements to maintain a government or state regulated job. I know Wall Street guys that are bar tending and computer technicians that are cleaning floors to put money on the table. But what about those that cannot find a job doing anything currently? Right now a job is a job and providing for their families is number one. We have a small trading range of 1136 - 1147 on the S&P.

Unemployment numbers seem to be moving down but seem to be far away from positive territory. The government is trying to help industries grow in order to help consumers land jobs. This may take time but the market seems to be rising on hopes. Is hope enough even though the numbers don’t show? Manufacturing data and other growing areas have shown obvious signs of a recovery. A supposed double dip recession is possible but has never happened. Outside influences could hinder the markets such as terrorist activity. If these extremist idiots do another 9/11 incident we could see a huge pullback in the market. Do not think for a minute we are out of the woods yet. We are vulnerable because of the past recession and uneasiness by consumers to jump back in the market. Wall Street is doing fine but what about the people on Main street!

We are seeing a trading range of 20-30 points in which there is no real excitement on the S&P. The holiday season typically shows low volume and sell offs due to losses taken before year end for tax purposes. A recession typically mean sluggish behavior and no real upward trend. Here is my prediction! People will get their pants all up in a bunch because retail and job numbers will be more positive. Market may go up for a few days. Than everyone will realize that seasonal workers were hired and sales will decrease over the next quarter. Oh, and let’s not forget that people are putting most of these sales on credit cards they cannot pay. Day trading is not easy in this environment and we must maintain a defensive attitude.

Anyone who isn’t happy for Ford is Un-American! Ford made a profit without using tax payer money or as you know it bail outs. This is awesome and we should be proud of them; even though I feel their cars do not ride as nice as Toyota. Is anyone else excited about this?

The recession is supposedly over and everyone is cheery yeahhhhhhhhhhh! Ok, that’s enough excitement and let’s get down to what’s really going on. The S&P was on fire today up 23 points to 1066 on news that GDP is up 3.3%. Buyers came out of hiding today and showed support to the market. Of course I have a big mouth and a few things to get off of my chest. Healthcare is still issue and has divided most of Washington causing healthcare stocks to sea saw. The fact is many small business owners cannot afford to give employees healthcare. This in turn means many employees can’t take a chance with startup companies. Unemployment rates are still rising but may ease the end of next year; especially if the economy keeps growing. Remember, day traders are in it for the long haul and there is no need to hit a home run; a base hit every few days adds up.

The market changed little today as earnings week started. There is talk on whether or not rates will be raised. Experts are talking about giving banks holdings in case of losses so that the bailouts will not affect the consumer as it did this past year. Jeff Skilling of Enron will get his new day in court in which a debate of what is honest services. His lawyer speculates that ethics and fraud are different and that there should be guidance on what the statutes should be. Skilling claims that where he was tried had biased opinions which affected the result of his trial. This guy is a bright, well groomed, egocentric, oh and a complete thieving jerk. People lost their entire pension and savings due to Skilling and his team. Not only should he not get a retrial but the debate on what is right and wrong should not be debated. Posting future earnings in advance is stealing! Posting better numbers to increase your stock is illegal!

Honestly, I am not sure why so many people were surprised by Intel and JP Morgan’s earnings. Chip makers typically do better when college students go back to school. Schools may need new software and students usually buy new notebooks before returning in late August and early September. Also, JP Morgan has been getting the nod from the government ever since Bear Sterns and Lehman got shown the door. They have been given the savior title from Washington and said they were on the road to an outstanding finish. Retail sales were down -1.5% today because of the end of cash for clunkers. The automobile industry put a small dent in the retail number.