Posted in Daily Comment on Dec 19th, 2007
I will be back with regular commentary January 2nd
Unless there is a clear trend or unusual event I will take a break between now and the first of the new year. The stock indexes have been whacked around quite a bit recently. With trading volume usually slowing down through the holiday period, it is a [...]
Posted in Baltic Dry Index, Currencies, Gold, SPY on Dec 14th, 2007
The US Dollar continued higher today with a very wide range bar. The move really started accelerating in the middle of the night in the US session, and extended the gains throughout the day. You can see how prices started to trade past the trend lines a couple weeks ago while those lines were still [...]
Posted in Daily Comment on Dec 13th, 2007
Stock indexes closed mixed in another choppy session. The slight uptrend via the moving average indicator I usually have on the charts is still holding, with the lows in both the SPY and QQQQ bouncing off those lines on the lows both today and yesterday. The regression channel is of little help here as it [...]
I was going to post charts of gold and the dollar today, but the action was in the stock indexes. The fed was apparently confused about the big loss in the stock market yesterday, so they came out this morning, prior to the open, with some new news about addressing liquidity. Couldn’t this announcement been [...]
In my brief commentary yesterday I suggested the Fed might straddle the fence and do the full 50 points on the discount rate and just do 25 on the funds rate. I think if that had happened the market might have been up today. I don’t know if the market was really disappointed with 25 [...]
