Posted in Currencies, Gold, QQQQ, SPY on Nov 30th, 2007
Stock index gapped higher today on further hints of fed easing. Isn’t that already priced in? How much more hinting can there be? So interest rate cuts are almost certain at this point in both the funds rate and discount rate. All stock indexes gapped on the open but were unable to hold the gain [...]
Posted in Crude Oil, Currencies on Nov 29th, 2007
Stocks closed a bit higher today. The markets attempted to sell off a bit after the previous two day powerful short-covering rally, but most indexes edged higher to make it three gains in a row. There isn’t much to show on the charts, as they look much the the post from yesterday with just a [...]
The stock indexes were the big star today, trying to climb out of the hole they have been in. In the comment yesterday I suggested that the Nasdaq/QQQQ didn’t seem to want to go any lower at this point. The big down impulse of about two and a half weeks ago has held so far, [...]
Posted in Currencies, Gold, QQQQ, SPY on Nov 27th, 2007
The dollar made a very slight recovery today. The graphic on the left from Barron’s this week maybe will prove to be timely. At least a few analysts are moving over to the empty side of the boat. The dollar bear side is still extremely crowded. The perception is still that the dollar slide has [...]
Posted in Baltic Dry Index, Gold, World Index on Nov 26th, 2007
As I’ve noted here before, the Baltic Dry Shipping Index is often a good barometer of world economic activity and stock market trends. Sometimes it leads, sometimes it lags. In the previous comment on this index I noted a possible double top formation. It looks like that has happened. You can clearly see on the [...]
