economic conditions

current economic data:

unemployment stayed the same, its lower since the beginning of 2013 at 7.5%, down .4% since January.

sectors that are seeing increase in employment are professional and business services. these two classes had an increase in employment by 73,000 jobs in april. also, for the month of february and march, the unemployment numbers were inaccurate and actually underestimated employment. this is a very bullish sign.

health care and retail jobs also increased in employment.

following stockbee market breadth, he says that low cap stocks retraced its gains and the market breadth is thin and will have a 8-10% pullback.

looking at the candlestick pattern, markets are making all time highs and quickly bounced back from the major down days. also, many companies are making breakthrough earnings and beating estimates. the market is making new highs, but volume for this past week is not as high so it might not be as convincing of a push. we will see what happens.

nasdaq has been hot this past week. again, we'll see what happens there. many downtrodden stocks have actually benefited from this hot streak in nasdaq. possible shorts. i see csiq and sol which are two solar companies that do not have fundamentally sound financials. well i need to learn more about financials before i can actually assess the situation. will ask leon questions about financials.

for now, continue to look at economic data, go through my daily scans for longs. market outlook is still a bull market unless stuff goes down. look at the nasdaq sector for shorts.

arna also went down after Q1 earnings announcement. I believe that they will probably drop drastically. currently priced at $7.63.

anyway i will slowly keep getting better at trading and get better at staying consistent with my trades. will need to work to develop my own market breadth sheet / metric to understand what is going on.

random fact: asians have the lowest unemployment race out of all other ethnicity categories in the unemployment financials. haha yeee

-tptrail