Back the financials market, it's time for us to check out how it will be going on this week under the analysis of our expert -
Pitguru Frank LaMantia!
The Financials Review
For the week of November 8th, 2010
There is no economic data being announced this morning, and traders may evaluate the market and the rally that has transpired over the past few weeks. A bond buying program and positive earnings helped fuel this rally. The Fed plans to buy back over $600 billion in Treasury bonds over the next 6-8 months, which may directly lower interest rates. In short, this process could help create more spending by consumers. This morning Chrysler announced it will be raising its forecast even after losing over $84 million dollars for the third quarter. Fiat SpA managed Chrysler since it left bankruptcy last year. The company wants to announce an IPO in 2011. Consumer spending is a focus this week as retailers will announce earnings. Keep an eye out for Wednesday as Kohls, JC Penny, The Gap, and Macys start to announce their numbers. Thursday, the G20 will meet in Korea to discuss the dollar and the issues that have occurred with the Yuan. The United States in the spotlight due to the $600 billion buyback program. Some leaders of the G20 feel this will create bubbles in other countries.
It is good to have a day with no data because this allows experts to try to analyze the trends and come up with an outlook
for the rest of the quarter. Hopefully, the announcement of multiple Black Fridays will show that people are spending. The malls were packed in the Tri-State area more so then in the past weeks. The question is, will the markup be enough to earn retailers profits?
This trader thought the bond market was going to collapse last year but it did not. With the buy-back of treasuries this topic has actually become a hot one overseas. It is a possibility that a bubble is forming and it could cause serious consequences.
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***Chart courtesy Gecko Software’s Track n’ Trade Pro
Past performance is not necessarily indicative of future results.
The Financials Market Review for The Week of 8th-Nov-10 
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