Sang Lucci December 10th Watchlist
The markets are down slightly this morning after indexes retraced losses from earlier in the premarket session. Italy is top of the headlines with Mario Monti planning to step down as soon as Parliament approves the 2013 budget. Europe is lower off the news and putting pressure on U.S. futures.
Fiscal Cliff talks are still at a stand still with both sides not agreeing on tax increases for the wealthy. Honestly though, with all the pressure now from folks like Warren Buffett, I can't imagine the republicans putting up much longer of a fight.
The markets have been trading very suspiciously lately, with bearishness felt in the Tech names and bullishness felt in the Financials. All the while the SPY has traded basically flat, stuck around $142 and unable to push higher with any conviction. As we speak, we're pushing back towards positive territory.
It's anyone's guess where we head today but I expect more choppiness which means your only goal here is to not lose money and live to fight another day. If you must trade, hit stocks that are moving without the influence of the broad indexes so that would be Apple (AAPL).
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