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Euro Voodoo, Redux

Saving the Day

After a strong gap down and sustained weakness, the market saw a strong pop on news that an EU/IMF/Greek plan was reached. The $QQQ finished at the highs, and dip buyers have been rewarded once again.

As I've said many times before, one day does not a trend change make, and all bounces have been violent and met with sellers shortly after. It will take time to see if a change in character will come into equities.

In this episode of IWO Into the Close, we discuss:

  • Why the market isn't healthy at all right now
  • How the commodity complex could get hit if certain conditions are met
  • Continued relative strength in names like $BIDU, $CMG, and $LULU
  • What you're not watching about the Euro, and why you should be
  • Your individual requests

You can watch the episode below:

 

by Steven Place

Steven Place is the founder and head trader at investingwithoptions.com/