Will Stock Market Action Be Choppy Today?

Ah, the smell of flowers…  Summer is in the air…  Oil is rising, Gold is rising, and what is falling?

General Motors (GM)!

But that’s old news now, as almost all of you reading this post probably know that GM will be signing the Chapter 11 papers during Pre-Market Monday morning (approximately 8:00am).

What else is falling, you may ask:

1. Treasuries
2. Inverse ETFs
3. The VIX (^VIX)
4. The U.S. Dollar
5. Retailers and Utilities (for the most part)
6. The Grape Lady
7. And finally, this kid

But in all seriousness, who the hell cares about Treasuries, the VIX, iETFs, the U.S. currency, and those two “crumby” sectors?  I mean, all the VIX does is measure volatility, Retails and Utilities are things that help make our country what it is, and if Treasuries fall too much, China might book it and take profits from what they’ve made on U.S. debt thus far.  It’s all good though, Obama will wipe your ass (with a Benjamin, mind you) and clean your spit up while spoon feeding you baby food and other gross shit.

As for this week, I’ve changed up my three swing trading watch lists and have made screen shots of them for all to see.  Watch these tickers closely:

Investment Spotter Watch List

Stock Hacker Watch List

Swinger’s Watch List

Other than these watch lists (which you can click on to enlarge), I have nothing else to say.  A new month means a new round of economic data, so check out the Econoday Calendar and hope for the best.

My personal feeling about Monday is pure choppiness, but I could be very wrong depending on how the floor traders and other professional investors digest the GM news.  As I have said in the past, if the ISM numbers are better than expected for May and are much better compared to the March to April numbers, then I’ll call a Manufacturing/Construction bottom and begin to get long infrastructure names like Caterpillar (CAT), Titan Machinery (TITN), Columbus Mckinnon (CMCO), and other companies (some of which are seen in the Investment Spotters Watch List).

Good luck this week, and remember:  ”Assets you can FEEL are assets that are REAL.”  Don’t be fooled by the Financial sector stocks, begin taking up the opportunities within the Basic Materials sector.  Keep your head straight, and BE PATIENT.

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