{"id":1436,"date":"2009-07-12T16:04:35","date_gmt":"2009-07-12T20:04:35","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=1436"},"modified":"2013-02-20T14:08:49","modified_gmt":"2013-02-20T19:08:49","slug":"weekend-review-july-6-july-12-2009","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/weekend-review-july-6-july-12-2009","title":{"rendered":"Weekend Review: July 6-July 12, 2009"},"content":{"rendered":"<p>A very bearish tone in the market this week, as the SPY has been trading around the ever so important 88 level.\u00a0 Wednesday morning looked as if the market was ready to crack, but we rallied into the close as the bulls came in to provide some support.\u00a0 With negative reactions to all economic numbers as a whole, we will look to the beginning of earnings season this week to provide us with a catalyst in one direction or another.<\/p>\n<p>An interesting post on <a href=\"http:\/\/www.ritholtz.com\/blog\/2009\/07\/king-report-hft\/\" target=\"_blank\">high frequency trading<\/a>.\u00a0 Ever since news broke over the GS espionage last weekend, a lot more attention is starting to be paid towards high frequency trading.\u00a0 But interestingly enough, none of this has been mentioned through traditional media.\u00a0 All the news and analysis is coming from the blogosphere.<\/p>\n<p>Obama <a href=\"http:\/\/globaleconomicanalysis.blogspot.com\/2009\/07\/obama-rejects-second-stimulus.html\" target=\"_blank\">rejects second stimulus plan<\/a>.\u00a0 After picking up some steam this week, and with many prominent people talking about it this week, Obama says he will wait to see the results of the first stimulus before going through with a second stimulus plan.\u00a0 What I find most interesting about this statement, is that Warren Buffett, who is one of Obama&#8217;s economic advisors, went on record this week to say that a second plan may be needed to help the economy.<\/p>\n<p>In an interview with former assistant Treasury Secretary, a comment is made on <a href=\"http:\/\/globaleconomicanalysis.blogspot.com\/2009\/07\/craig-roberts-former-assistant-treasury.html\" target=\"_blank\">who the Treasury Secretary works for<\/a>.<\/p>\n<p>A letter from the <a href=\"http:\/\/www.ft.com\/cms\/s\/0\/78f47f9c-6be4-11de-9320-00144feabdc0.html?nclick_check=1\" target=\"_blank\">CEO of General Electric<\/a> in the FT.\u00a0 He states that as Americans we must focus on innovation, and go back to our roots in manufacturing and focus on exports.\u00a0 I agree that as the dollar begins to de-value over the long term, we will begin to see more opportunities in manufacturing industries, but one thing he doesn&#8217;t take into account is intellectual property and the Internet.\u00a0 The US has been the most innovative country in the world for the last 200 years.\u00a0 Whether it be through the introduction of new processes or the development of new technology, the US has been able to increase the productivity of it&#8217;s workers in this increasingly global environment.<\/p>\n<p>Chinese <a href=\"http:\/\/online.wsj.com\/article\/BT-CO-20090709-703326.html\" target=\"_blank\">auto sales are up<\/a> year over year.\u00a0 I think this is very significant, as the world looks towards China for future growth in consumption.\u00a0 The fact that sales are up not only indicates that there is a growing middle class in the country, but also that people are prospering and moving up the economic ladder.\u00a0 If you take a look at the long term charts, you&#8217;ll see that Chinese markets were the first to turn lower when the markets topped in 2007.\u00a0 It would be prudent to keep a close eye on it, as it will most likely also be the first to lead us higher.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A very bearish tone in the market this week, as the SPY has been trading around the ever so important 88 level.\u00a0 Wednesday morning looked as if the market was ready to crack, but we rallied into the close as the bulls came in to provide some support.\u00a0 With negative reactions to all economic numbers as a whole, we will &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/weekend-review-july-6-july-12-2009\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":167,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1436","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Weekend Review: July 6-July 12, 2009 | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/weekend-review-july-6-july-12-2009\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Weekend Review: July 6-July 12, 2009 | SMB Training\" \/>\n<meta property=\"og:description\" content=\"A very bearish tone in the market this week, as the SPY has been trading around the ever so important 88 level.\u00a0 Wednesday morning looked as if the market was ready to crack, but we rallied into the close as the bulls came in to provide some support.\u00a0 With negative reactions to all economic numbers as a whole, we will ... 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