Posted in QQQQ, Stock Market on Oct 31st, 2007
The Fed cut rates as expected, and as expected the markets gyrated, first down, and then up sharply. Gold hit $800 in the electronic session. Stocks gyrated around trying to interpret the Fed non-news, and then finally decided to go higher, with the Qs leading the way up 1.42%, while the DIA was up .89%, [...]
Posted in Baltic Dry Index, Commodities, QQQQ on Oct 30th, 2007
Stock indexes closed mostly lower today, on fairly light volume ahead of the Fed rate cut decision on Wednesday. The Nasdaq was the only strong index, with the QQQQ actually closing up a few pennies. The Qs are testing the upper end of that wedge I had on the chart yesterday. Rather than repeat that [...]
Posted in Baltic Dry Index, Gold, QQQQ, SPY on Oct 29th, 2007
Stock indexes put in a mildly bullish, narrow range, light volume day ahead of the Fed rate decision due out on Halloween afternoon. Gold was up again on anticipation of the never ending decline in the US Dollar. On the chart to the left in the upper graph you can see the same broadening formation [...]
Stocks and gold rallied sharply today. The early morning session was caught up in the euphoria of the Microsoft earnings. The session was choppy, but every attempt at a decline with oil ratcheting up to new highs, was met with renewed buying. The S&P and Dow made more progress from the opening range, and had [...]
Stocks once again recovered from early session losses to close mostly higher. There is still anticipation of the expected rate cut next week. It’s news everyone knows, but still seems to be feeding this run. Also, MSFT reported after the close and the stock is up sharply in after-hours trading. The chart to the left [...]
