Good week for the technology giants this past week as the NASDAQ was up all 4 trading days in the U.S. I outlined in prior weeks this bounce was likely, but the question now becomes how long will it last?

We’re about to have some big potential market-moving events;

• Q2 Earnings commence this week and all eyes will be on rest-of-year guidance for expected revenues and earnings.
• Stock Options Expire this Friday – big deal for commercial hedgers.
• The Federal Reserve Open Market Committee will be making another interest rate decision in July 27th.

As Yogi Berra said, “It’s tough to make predictions, especially about the future.” So, I’ll be watching closely and adjusting our positions in response to these events and market responses.

I didn’t do a lot of trading this past week. Our largest position remains precious metals. Over the past 2 weeks that’s been more disappointing than a Roger’s internet package.