Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for the last day of the month and quarter, Monday the 30th of September.
It's hard to know where to begin, so let's begin at the beginning. I think we should throw all the Republicans and Democrats out of office - they are absolutely not helping America move forward and get back on its feet again.
What is happening now in Washington is a childish squabble between two completely different ideologies without any grown ups in the room.
I believe that both parties have lost sight of the big picture, and that's making America strong economically. That means creating jobs, putting people back to work and to live within our means. If we can't afford it, we can't afford it - end of story.
These simple concepts seem to be beyond the grasp of the two parties and the last thing on either parties mind. It's all about, whats in it for me, and I want to keep my position of power and job come h@ll or high water.
That narrow minded attitude does not reflect well on America,the economy and the stock market in general. There are no winners in this stupid schoolyard game of mines bigger than yours, as both parties in the eyes of the general public are going to lose big.
Leave a comment below and give us your take on Washington and the current stalemate.
On a brighter note, Apple (NASDAQ:AAPL) just became the number one brand in the world according Interbrand's annual Global Brands report. Apple displaced perennial number one Coca-Cola after a 13 year run on top. We say it's about time, congratulations Apple.
On a personal note, I still have not been able to buy an Apple gold iPhone 5S phone. According to the local Apple Store here and Annapolis, there is a line every morning outside the store waiting for the overnight supply of new iPhones to come in. That is how good and how strong the cult of Apple is, everybody wants a new iPhone. No, let me rephrase that everybody wants a gold iPhone 5 S.
Apple could just on those facts alone move higher when it's finished it's consolidation phase. Maybe by that time I will have a gold iPhone 5s in my hand:-)
I'll be looking at Apple today and how I believe it is consolidating to go higher.
Unlike the gold iPhone 5S, gold has to be disappointing to the bulls with all this financial chaos in Washington. In fact as I am writing this gold is down for the day. We still believe this market is in the beginning phase of consolidating to move higher later this year or early next year. We will of course be waiting for our Trade Triangles to signal that move
If you would like to leave a comment or ask a question on any of the stocks mentioned in today's report we would love to hear your take on things.
Have a great day.
Adam appears frequently on the following financial news channels as a guest expert. Click on any cable logo to watch Adam's latest appearance.