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Todayâ&#x20AC;&#x2122;s Fundamentals U.S. Manufacturing grew in June More orders Stronger production Could help the economy second part of the year

Institute Of Supply Management Index of factory activity increased to 50.9 in June May reading was 49 and lowest in 4 years Reading above 50 suggests that economy is expanding Reading below 50 suggests that economy is contracting

Only Negative News Factories cut jobs last month Manufacturing slowed down Europe’s economy weighted heavily on U.S exports

Construction Spending Rose 0.5% during the month Hit highest annual rate in 4 years Keep your eye on the home building sector Keep your eye on KB homes (stock)

Intraday Stock Market Analysis

Volatility Has Been High Volatility is a double edged sward Easy to trick people into thinking it’s something more than a correction Don’t let the market suck you in psychologically

The Bigger Picture

The Gold Rally

Look for a bounce to the 1300 to 1350 level in the short term

The Bond Futures Market

Existing Short Positions Today’s Rally Did Not Impact Our Short Positions PFE – Down $.23 POR- Down $.38 WMT – Up $.10 Weak relative strength compared to stock market

The U.S. Dollar

Look for British Pound to weaken as well Slow down in manufacturing sector

New Set Up For Tomorrow

Utility companies are very sensitive to interest rates and economy in general

Things To Keep In Mind Don’t take too many positions right now Market is very random and unpredictable Advice from one of the most profitable traders in the world

“Remember that not taking a position is a position”

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