The street will be buzzing about Bernanke, unemployment rates, Amazon, Microsoft and Starbucks — but my eyes are focused on McDonald’s
July 22, 2010

Let me pop in here this early Thursday morning before the opening bell to answer some of the questions I’ve seen people trying to post over the last couple of days.

To those of you wondering what the heck happened to in Wednesday’s market, let me make this short and sweet. The market was having a good rally, moving on good earnings reports from some good companies.

Then Congress once again started asking Bernanke for a weather report, and he told them exactly what they already knew, we already knew, and most people on the street already knew — the economy doesn’t look exactly rosy, and he doesn’t have high expectations for the unemployment rate improving anytime soon.

But the traders who are moving the markets these days, don’t like any sort of bad news at all — even if its news they already knew — and they dump many positions, causing the market to take a little nosedive.

Not a big deal.

If you’ve been watching or participating in this market at all — you should be used to this.

My guess is, the traders will sleep on it, wake up this Thursday morning, wait for the opening bell, listen to some analysts calls on this big earnings day and week with Amazon and Microsoft — and if the news is rosy about the Kindle, which I believe has been doing fairly well in the marketplace since they slashed the price in June, and Microsoft — my guess is the market will will have a nice day.

As for what’s at the very top of my watch list — the very same name that’s been on my list for a long time — McDonald’s.

If you’re someone who’s sitting on the sidelines trying to watch and figure out what’s going on in the market — just watch this baby over the next day or so, as it will give you a good gauge for how to play this overall market.

But everyone must heed my usual disclaimer: Don’t base any of your investment decisions on anything you read here — do your own due diligence — or at least enough research to pick the right professional to do it for you.