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Unclear What Will Happen On Wall Street

The Markets are beaten up for another day this week. It’s unclear what will happen on Wall Street with all this doom-and-gloom being spoken about today. It’s definitely to build up cash reserves and sell out of stocks that are sensitive to economic turmoil. Consumer staples are the only thing that the analyst are recommending at this time, which I not too sure about any stock at this time.
The other day I spoke about buying Mosaic at $65 and it’s a good thing that I’m being a trader at this time because if I wasn’t, I wouldn’t have sold yesterday morning at $70. What would have happened if I was an investor is that I would be out over $1000 on the purchase. Mosaic missed their earnings last quarter and lowered guidance for the rest of the year. The stock today is trading at $46 range.
The markets are not just unsure about the “Invest In America” bill, they’re also having concerns about the future of the economy. The DOW open this morning in the red and has continued to go downward from there. Next week is the start of earnings season and Wall Street is concern that many, if not most will have similar reports like Mosaic.
The Initial claims report was released today and the actual numbers were worse than what was expected from the Analyst. As a matter of fact, it’s the highest ever since 2001. Factory orders were also announce and again it was lower than what Wall Street wanted to see.
We are in for a rough ride, so buckle up. Hopefully it won’t be a long one.

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