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European Recession Does Not Mean A Thing, Easy Money Does

Published 05/15/2013, 12:17 PM
Updated 07/09/2023, 06:31 AM

This morning, the S&P 500 Index e-mini futures (ES-M3) are trading lower by 3.25 points to $1645.00 per contract. Often, after a large point advance like we saw yesterday the next trading session is more subdued or calm when it comes to price action. It is also the Wednesday before options expiration which is often a very choppy session as the institutions try to shake out the weak hand retail options traders. Many individual stocks such as First Solar, Inc. (FSLR), Netflix, Inc. (NFLX), Green Mountain Coffee Roasters, Inc. (GMCR), and Lululemon Athletica Inc. (LULU) are just a few of the leading stocks that are likely to be volatile today.

Last night, most of the leading Asian stock indexes finished higher. The Nikkei 225 Index (Japan) reached new 52 week highs closing above the 15,000 level. The weak Japanese Yen is the catalyst for that stock rally in Japan. Another big winner in Asia was the Bombay Sensex Index which ended higher by 2.49 percent. This move in India tells us that the Indian ADR's could be strong today if the U.S. markets hold steady. Some leading Indian related equities that could be in play today include Tata Motors Limited (TTM), Infosys Ltd. (INFY), and the India Fund Inc. (IFN).

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