Hang ten buddy. Four straight days in the green is amazing stuff, but we were due for some sort of bounce or calming after the recent market mayhem. Now we have to see where the next set of economic news takes us.
The G-20 met this weekend and trying to rope in all the toxic loan crap is top of the list so we will see tomorrow any market reaction. I am of the thought we will be bounce around just over 7000 on the DOW.
I also believe we have to look at the price of oil to see where the real economy is taking us. Is OPEC going to make more cuts ? Have they really been cutting back on the past cuts ? Will Russia be allowed into OPEC ? These will be important indicators as to how the big boys plan to make money on their oil and what the economies can handle paying under the pressure of global contraction.
I am also watching the price of gold. It is very indicative of the currencies but there is some odd behavior of late I will look at in my next post.
No comments:
Post a Comment