Above is the Nasdaq 100 QQQQ chart. I presented it today with a longer term view, and with the volume in the sub-graph. You can see the volume pattern on the rally has been on decreasing volume. Even with the near record up move yesterday, the volume was still far less than it was on [...]
Market Mood
Archive for September, 2007
Fed cuts rates. Big day up for stocks and gold.
Posted in Daily Comment, Gold, QQQQ on Sep 18th, 2007
The Fed cut both the Fed Funds rate by 50 basis points, as well as the Discount Rate, also by 50 basis points. It was expected that they would possibly cut both by a quarter, or just the Fed Funds by 50, but most pundits didn’t think they would do both. When they did it [...]
Stocks down, Gold up
Posted in Daily Comment, Gold, QQQQ on Sep 17th, 2007
Stock indexes closed lower ahead of the much expected Fed rate cut. Gold rallied. The gold pit session lost about half the gain, but in after hours electronic trading it closed near the high of the day. The dollar index is holding just a bit under the psychological 80 area, being flat today, and crude [...]
Stocks, Gold Mixed
Posted in Daily Comment on Sep 14th, 2007
Stocks started the day with a large decline, but after a bumpy ride up, were able to close the day little changed. Gold, on the other hand, started the US trading day with a big rally, but ended the pit session to close near unchanged, and to lose a couple of dollars in the electronic [...]
Stocks Mostly Higher, Gold Lower
Posted in Daily Comment on Sep 13th, 2007
Stock indexes were up today and gold was off a bit. Volume was very light due to the Jewish holiday. I am showing only the Dow ETF today as that was by far the strongest index, due to better than 3% moving in both GM and McDonalds. Today prices gapped up into the lower error [...]