Published on
October 26, 2009,
7:46 am in
Intraday, News, Opinions and Trading.
Tags: dollar, interest rates, News, TBT, UUP, UYG, XLF.
FDIC Friday brought the closing of 7 more banks, bringing the list to 106, the most since 1992 and there is still 2 more months to go through.
Bank failures hit 106 for year; many more are weak
All this goes on while the banks and the government get and make more money.
2009 US economy: largest transfer of wealth to financial/political elite in global history.
I think I’ll be looking at bank and dollar and interest rate ETFs for some action today: TBT UUP UYG XLF. Futures were up overnight but began to weaken as the spotlight turned to European, and now, U.S. markets.
Published on
August 6, 2008,
9:30 pm in
Daily and Trading.
Tags: China, CMZ, CPSL, DJ30, DNDN, dollar, DVAX, EGY, EPEX, Nasdaq, oil, RAME, SUF, UXG, volume.
It started down, almost a hundred points in the Dow, but we reversed and ended in the green. I guess you would say we saw some follow through to Tuesday’s big gains. All the major stock indexes were up, although on weaker volume. Nasdaq went through its 50 day moving average and the Russell 2000 made it to its 200ma. Oil was down, US dollar was up. Hey bulls! Can we keep going?
I had some good gains today with some of my “standard” stocks in my watchlist: DNDN, DVAX, CPSL and CHINA. I also picked up MPEL late in the afternoon. NHWK took a hit today, but I’m still in the green.
Some I’m adding to the watchlist for tomorrow are: RAME, EGY, and UXG. If you look at these charts, you’ll recognize the candlestick chart pattern that has developed….MorningStar. It’s one of my favorites, but we need to make sure it confirms. It may not be tomorrow. It could happen in the next couple of days. So watch it.
On a broader note, I see a lot of oil-related stocks, such as drillers and refiners, perked up today. EGY happens to be one of them, but so are: SUF, CMZ and EPEX. Check’em out.
Tomorrow we have some economic news, Unemployment Claims and Pending Home Sales. And let’s not forget some earnings reports.
I think I’ll catch some zzzzz’s this evening 
Predictions anyone? One thing I’ve learned is that the market will do whatever it wants no matter what you think, hope, want or need 
But it has been a pretty busy weekend….a bank failure (IMB), FRE and FNM getting backing from the Fed and the US Treasury, and the USD$ gaining some strength.
Should be another interesting week. Perhaps, as a change of pace, the interest will be to the upside 
Volatility keeps creeping up, volume was above average on the Qs and just average on the Dow. Although the Dow was lower on an intra day basis in January, today’s close is the lowest since October 2006. The indexes, as well as a lot of stocks are oversold. Not that they can’t get even more oversold, but I feel a bounce coming on. Late this afternoon it looked like we may just turn green for the close….before the Dow turned back to close down -146.
It seemed the market withstood a lot of bad news this morning…the open wasn’t wild and the downward move was gradual…and the buying activity on a Friday afternoon seemed a bit strange also. The week was a loser overall with the indexes losing 2.6% to 3%+.
The dollar was mixed today…down against the Yen but up against the Euro. Oil was scary trading above $106. You’d think gold would have taken this opportunity to scream higher, maybe breaking thru $1,000, but No! Gold fell during the day to close lower, about $972.
Next week has some economic reports: Inventories, Trade Balance, CPI, and the usual weekly oil, gas and unemployment claims. I’m a little edgy going into next week. Since I will be snowed in by tomorrow morning, I’ll spend the weekend reviewing charts and reviewing my past trades this year. Maybe I’ll get a grip on it
Futures down…USDollar down…Oil down…Euro down…Gas down…Copper down…Interest Rates down…Gold down…Asia up…Europe down…AAPL way down. Hmmm, I wonder what the stock market will do today 
