$Market Closer$ Financials and Nasdaq Lead the Close

As lunch ended the Nasdaq and the Financials kicked in and started to lead the Market higher.

The Dow closed at 12548.35, up 68.72 points. Oil was down $3.44pb at 4pm EST.

But as the dollar maintains low levels, you will probably see oil climb through the summer months.
Economic growth might be positive the rest of the year. And without 2 negative quarters of growth, it is hard to call it a recession. Let's set the "R" word aside, if oil stays between $125pb and $150pb, our economy could dwindle to a stand still even if th interest rates stay steady for the next 6 months.

It sounds as if the old St.Louis favorite, ticker symbol BUD, doesn't have much defense if the a buyout was forced by InBev. After being up 7% last week, it was up again today .25%.

Keep an eye on the IYR if it hits $71, you might see some room for gains in the $65 Put Options.
It looks as if it will try to test the $60 level again. Also, depressed asset are starting to be bought, and therefore being recognized as depressed assets in real dollars.

DRYS hit $84.80 today and sure looks like a buy from where we are sitting.

Gold dropped today again. With inflation heading North, we see a buying opportunity at around $880 per ounce.

Keep an eye on the Vix, it hit a high over 20 today, yet closed at 19.64. This was the first time in about 30 days it reached that level.

Good Fortune from Trade-Equity.com!!!

5-27-2008 $Market LunchBox$DRYS Bounce to 120?

The Dow has been back and forth from 50 points up and 20 points down today. Currently (1:50pm EST) the Market is up 22 points at 12,501 on the Dow.

Layoffs are big and in every inch of the news. Generally speaking this happens at Market bottoms, not Market tops. This might be an indicator, since the Investment Banking firms can provide steady indication.

LDK Solar is taking a breather today right along with oil, who is down $2.50 to 129. 69pb. Oil is showing great support at $125pb. Buy the dips in energy and shipping is probably the right thing to do here.

Watch DRYS bounce back North after on future profits and a low PE under 6.

It is a slow day today, with not a lot of news out to move the Markets. Gold is down today also.

Home prices fell the most in 20yrs. It is going to get through September. Homebuilders with possibly the exception of Toll Brothers, are in trouble and showing considerable weakness.

Good Fortune from Trade-Equity.com