The Third Quarter Arrives: Hold On to Your Hats!

By Todd Harrison  JUL 01, 2013 10:28 AM

The second half of 2013 is upon us.

 


Editor's Note: Todd posts his vibes in real time each day on our Buzz & Banter.

The third quarter cometh and not a moment too soon; you could almost hear hair follicles hitting the trading desks last week as fund managers put the final touches on the first half of their year. 

While June was a volatile month, 2013 is shaping up just fine, thank you: The Dow Jones Industrial Average (INDEXDJX:.DJI), S&P 500 (INDEXSP:.INX), and Nasdaq (INDEXNASDAQ:.IXIC) are all hovering at or near 13% which isn’t too shabby, all things considered.

We covered a lot of ground last week; on Monday we asked if Shibor Will Become the Modern Day Sub-Prime.

On Tuesday, we offered that China Is Trying to Teach the USA Free-Market Capitalism.

On Wednesday, after the paltry 1.8% GDP, we discussed the difference between a Stock Market Rally and an Economic Recovery, and gave a Pop Quiz: Will the Stock Market Rally Last?

Thursday, we highlighted the technical landscape in The US Stock Market: Highway to the Danger Zone and Friday we asked if Gold Was a Leading Indicator of Equities before offering that Gold could see a $100 rally the before Friday (as I write, gold has traded $68 off the low print). 

We began this abbreviated holiday stretch—flush with Q3 agendas, thin skeletal ranks manning trading desks, and all sorts of technical influences—on a positive note after Japan set the global tone (+1.3%) and Chinese equities edged higher (Shanghai lost over 20% in June alone; the bounce, thus far, is all of 7%). 

All eyes turn to the United States of America to see if the country will indeed have a happy birthday.

Random Thoughts:
R.P.

Twitter: @todd_harrison

Position in SPY.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

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