Weekly Review (7/17/06-7/21/06)

Do You Like Gambling?

For the week, the Dow closed up 1.2 percent. The S&P 500 added 0.3 percent. On the other hand, The Nasdaq finished down 0.8 percent which is its lowest weekly close since mid-May 2005.

Aside from the stream of earnings, several critical economic reports will come out this week. We will be surrounded with the Middle East crisis for sure. How investors will react to any combination of news is hard to predict.

We don’t want to gamble in the market. I believe a lot of others would stay away from the market also. If most of people rather watching the market, not buying yet, the market will not have enough support power to up.

As we all know, the market needs some good news badly and some stocks are at ugly low. So, during the week, there will be some good news to jump the market up. But I rather think that any up, for now, is a phase of another swing.