July 1st Watchlist : Gold, BlackBerry, and Apple on Watch
Futures are up this morning after the Nikkei posted a 1.2% gain in the overnight session. Traders will most likely be cautious during this shortened July 4th week as the volumes will surely be on the lighter side. ISM Manufacturing is scheduled to be released at 10 AM this morning and that report is often times a market mover so be sure to watch for investor reaction.
Gold (GLD) is continuing its bounce from Friday's trading session, however the Gold bulls still need a considerable rally to recoup their recent losses. Blackberry (NASDAQ: BBRY) is again gaping lower after earnings came in well under expectations last week. Apple (NASDAQ: AAPL) is looking at a nice premarket gap-up this morning which is surprising considering it's recent trend lower. Speculation is out over a trademark application for the iWatch was filed in Japan.
I plan to do nothing yet again this week and avoid the trading blunders that come along with choppy environments, lack of liquidity and light volume.
GOOD MORNING YOUNG WORLD!
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