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Two Ways: G-20 Heats Up


Strengthen your portfolio in good times and bad.

G-20 in Pittsburgh

All eyes are on the Group of 20 meeting, which concludes this week in Pittsburgh. It's a key event for global financial reform.

According to Reuters, German Chancellor Angela Merkel warned today that efforts to make the world less prone to financial meltdowns could be losing steam. But so far, they appear to be on track, she said before she departed for the meeting.

Other issues the summit will attempt to tackle include climate change and bankers' compensation. European leaders are pushing hard for tighter limits on bankers' compensation packages, but click here to see Professor Jon Markman's view in last night MV Weather report on the "global kumbayah."

From the Bull Pen: If you're bullish on stocks, but believe we could be in the midst of a short term correction, consider shifting toward more defensive plays such as pharmaceutical giant Merck (MRK). First support is the 50-day moving average (31) and second support is $30. Sell stops can be set below those levels according to your risk profile.

From the Bear Cave: Bears are eyeing that reversal in the S&P 500 (SPX); a spike to a new high then closing at a four-day low. If you think 1040 is the next target, use the Ultrashort S&P 500 (SDS) for a short-term trade. Remember to set your sell stop.

A Quick Check Around the World

Asian trading closed with the Nikkei 1.67%, India 0.37%, Hang Seng -2.52%, Shanghai 0.38%, and Taiwan -0.71%.

Across the pond, we see the FTSE -0.10%, CAC -0.23%, DAX -0.18%

As of 8:20 a.m. EST, S&P Futures are trading +0.25 to 1059.25 and Nasdaq futures are +3.000 to 1728.50.

A Look at Commodities

Over in commodities, crude oil is -0.69 to 68.28 while gold is +1.70 to 1016.00 this morning. Silver is -0.90 to 16.82 and copper -4.900 to 274.75.

The dollar index is +0.140 to 76.4350.

On the Radar


08:30 Initial Claims
08:30 Continuing Claims
10:00 Existing Home Sales 5.33m cons.

Click here for the full trading radar.

Good luck today!
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No positions in stocks mentioned.

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