Posted in Daily Comment on Dec 10th, 2007
I was out Christmas shopping. No, not holiday shopping, or winter celebration shopping, but actually Christmas shopping. I’ve had enough of political correctness. So the market was up today, but after the initial surge most indexes just chopped sideways with little further direction. Traders know that on fed day, which is tomorrow (Tuesday) that the [...]
Posted in Daily Comment on Dec 7th, 2007
Most markets put in small range bars today, with little change. The fact that the stock indexes held onto their recent gains was enough to pull the trend indicators up a bit into positive territory. Oil and gold pulled back a bit, but both have been congesting sideways for the past week. The biggest movers [...]
Posted in SPY on Dec 6th, 2007
Stock indexes moved higher today, mainly on the euphoria over the bailout of the sup-prime mess. Why doesn’t the government bail out commodity traders when they have a bad day? I’m not sure I understand why irresponsible behavior gets bailed out. I know many people got talked into loans that they didn’t understand and they [...]
Posted in Currencies, QQQQ on Dec 5th, 2007
Stock indexes were up sharply today, with gains in the broad indexes of more than two per cent. There were some encouraging economic reports, but the real driver is probably the interest rate cut next week, with some still expecting a half point cut, but more likely will be a quarter. There may well be [...]
Posted in QQQQ on Dec 4th, 2007
Stock indexes were lower across the board today, with the S&P with the largest percentage loss. Yesterday I posted all the reasons I thought the indexes, and specifically the Qs would be down today, and all the indexes gapped down right on the opening of the day session. What bothered me about my comments after [...]