Stocks on Wall Street were lower at midday after data showed that purchases of existing U.S. homes unexpectedly declined in August for the first time in five months. Following Alibaba’s (BABA) record-setting IPO on Friday, the tech sector was broadly weak, as witnessed in the Nasdaq being the clear cut laggard among the major indexes. ECONOMIC EVENTS: In the U.S., existing home sales fell 1.8% to a 5.05M unit rate in August, missing expectations for them to rise 1% from the prior month. COMPANY NEWS: Shares of Apple (AAPL) were little changed after the company announced it sold over 10 million new iPhone 6 and 6 Plus models in the three days after their launch on September 19
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Mario Randholm Blog. Mario is the founder of Randholm & Co. S.A.C., an investment management company dedicated to producing superior returns for its clients and employees by adhering to mathematical and statistical methods.
Disclaimer:
Risk Disclosure: Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
Hypothetical Performance Disclosure: Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.
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