Posted in SPY, Daily Comment on Apr 30th, 2008
The Fed did the expected 1/4 point drop in both the discount rate and fed funds rate. The wording was also basically unchanged from the last meeting. The is a perception that the dollar bashing phase is coming to an end, finally, and that the commodity bubble can finally pop on the rising dollar. The […]
Posted in Daily Comment on Apr 29th, 2008
The main action today was the rally in the dollar on the perceived ending of the interest rate slashing cycle, even if the Fed cuts on Wednesday. Commodities in general got clobbered today on the stronger dollar. With many of the commodity markets being in, or recently having been in bubble territory, it is not […]
Posted in Currencies, SPY, QQQQ, Daily Comment on Apr 27th, 2008
The weekend seems to get away from me, and for some reason I seem to find any excuse to not spend much time on my computer. I updated my commitment of trader files and since have tried to think of other things. But it is Sunday evening and I must try to get some perspective […]
Posted in SPY, Gold, Daily Comment on Apr 23rd, 2008
Stocks indexes closed a bit higher today, although they giving back most of the gains in the after-hours session as I write this. In the last post written on Monday I was concerned about the gap up on fairly light volume. The chart on Monday was the QQQQ. Today I show the SPY with a […]
Posted in QQQQ, Daily Comment on Apr 21st, 2008
I haven’t had much to add the last few days so I took a break from updating. Prices have bounced nicely from the uptrending moving averages, and were signalled by an oversold double stochastic and a tail left on the candle. I had concerns about that set-up failing as prices fell below the averages with […]
