Market Closer

Fridays close brought some interesting signs.

Starbucks was up almost 6% today Solarfun was up 24.26%.

Starbucks is taking on an investment from Nelson Peltz/Train Partners. This happening at almost the same time Goldman Sachs Asset Management revealed it had dumped 12.4 million shares as of March 31, while Morgan Stanley Hedge Fund Partners said it sold 4.9 million shares.

Solarfun gains on a deal with HOKU(Hoku Materials). We aren't sure about SOLF over the long term, but do like the solar sector.

Housing starts came in higher than expected today.

The Dow was down about 100 points at the low today. Then it came bouncing back to almost positive, which for a Friday is a surprise.
At the close, Dow was down 5.86 points today,to 12986.

Resistance seems to be there but the Dow is sure being patient, from our point of view, in trying to pass this level and get to 13500.

The WII Fit hits the market next week and is family directed. Now you can workout with the WII in the comfort of your home. This will work for Nintendo. Watch the numbers on this product.

China is going through a lot with the earthquake and diminished refining capacity due to to the quake. This might create a buying opportunity for China or the region. Possibly an infrastructure play. Don't miss this opportunity.

The Turkish Lira rallied today against the Dollar.

Looking toward next week, here is a look a the possible fundamentals that might effect the market.

http://www.bloomberg.com/markets/ecalendar/index.html

http://biz.yahoo.com/research/earncal/20080519.html

Good Fortune from Trade Equity!!!

Market LunchBox

Well the retailers came around today. With the XRT showing about a 2% loss currently, and possibly going lower. We were just about 1 week in front of this trade. We look for retail to sink for the next 4 months.

Only seven of the 30 Dow Jones components are trading with a gain.  The Dow's two best performers this session are Exxon Mobil (XOM 92.22, +0.92) and Chevron (CVX 99.84, +1.35).
The dollar dropped to its lowest level in 1 month.

The Dow is at 12953 down 39 points. This is far off the lows of the day,

With oil up $2.21 to over $126 pb, the Saudis agreed to up production by 300k barrels per day to make up for lost production in place such as Nigeria.

Intelligence is everywhere today, but the best article that I have read is here.

http://www.bloomberg.com/apps/news?pid=20601109&sid=a8AZRX5LUMYE&refer=home

Gold rallied the most it has in 3 months to $21 up on the day today.

Good Fortune from Trade Equity!!!

PreMarket Buzz

With the Dow set to open in 7 minutes, Dow futures are showing 17 points up on opening.

The ASCO.org ploy to curb insider trading in the Pharma industry by posting all the results on the internet seems it will have a positive force on the open of Pharma trading this morning.

Oil is up $3.43 to $127+ pb.

Gold is up 18 dollars this morning.

Fannie Mae said it will lower down payments in hard hit areas today, due to consumer groups. Well, here we go again. You can now count on another real estate down turn in the next 5-10 year.

Good Fortune From Trade Equity!!!