The bulls put in a hard day’s work and not much to show for it on the candles. That doesn’t mean we are headed lower, just means that we had minimal gains today as the markets chew on the ramifications of the Fed’s cut. We also have options expiration on Friday and that alone tends
Tag: USO
The biggest catalyst today was the announcement that the government, along with the mortgage industry, will be helping those hurting. The idea is that the “troubled loans” that some homeowners got into can be renegotiated to better, more stable terms. It is hoped that the investors who were flipping homes are out of the market
The current debate going on is whether today’s rally was due to the presidential election or the belief in a year-end rally. I’ll add to the debate by throwing out the possibility that we are in a bear market rally and that as soon as the numbers are tallied tonight, the market will sell-off. Now,
With all that’s been going on in the credit markets lately it seems that oil gets a sound bite here and there and not much more. Oil ($USO) has sold off substantially lately and the once mighty crude ($150 a barrel in July) closed under $79 a barrel! The crude inventories that typically come out
Indecision 2009
The official first day of 2009 with full market participation shows indecision as a doji formed on ok volume. No real economic events occurred today and not much in the way of news other than president elect Obama’s economic stimulus package proposal. Perhaps lots of traders were snowed in at their cabins or a catalyst