Oil finished up 92 cents to $127.54pb. This looks like major weakness and due to that we like the DUG etf.
The British Bankers' Association chose to do nothing with the way LIBOR is calculated. This decision left many skeptics feeling dumbfounded.
Investment Banks announced today that they see M&A activity up for the next 2 quarters in the banking industry. This comes as no surprise as regional banks battle to keep their head above water due to the housing crisis.
Well, the storm selloff did not happen today. But peak weakness is showing still. If oil drops next week, the Markets could vault themselves through the resistance of 1404-6 on the S&P.
Natural Gas was up 32 cents today. NG might dislocate itself from oil next week if oil take a dive South. Also, you might want to keep an eye on coal.
Have a great weekend.
Good Fortune from Trade-Equity.com!!!
Friday, May 30, 2008
$Market LunchBox$ Fridays Look Forward
TIF beat earnings and look as if it is headed back to 55 per share. Meanwhile other retailers such as JCrew are losing double digit percentages.
At 1:40 EST, the Dow is up 12.70 points to 12, 658, after drifting back and forth today, off its high of 12,689.70.
The Dow looks very unsure of itself compare to the S&P, who looks like it wants to break out of the 1406 resistance level. This will be more difficult as the calendar moves forward. More earnings will come out that will reflect the cost of oil, and these cost will be past on to the consumer. This in turn will effect the consumer, who has taken a hit in his/her net worth, due to reeal estate price decline. In the 3rd and 4th quarter of 2008, the consumer will spend a considerable amount less that they did in the 3rd and 4th quarter of 2007 because of this.
The housing crisis should peak in September or October of this year. We think the commercial real estate front will be taking a big hit due to energy and the poor consumer.
China will probably fall off a bit post Olympics. But will pick back up within 3 months we believe.
With big support around $124-125 per barrel, oil will possible test those levels next week.
Gold is up $8.90 today. The VIX is down almost 3% to 17.61.
Good Fortune from Trade-Equity.com!!!
At 1:40 EST, the Dow is up 12.70 points to 12, 658, after drifting back and forth today, off its high of 12,689.70.
The Dow looks very unsure of itself compare to the S&P, who looks like it wants to break out of the 1406 resistance level. This will be more difficult as the calendar moves forward. More earnings will come out that will reflect the cost of oil, and these cost will be past on to the consumer. This in turn will effect the consumer, who has taken a hit in his/her net worth, due to reeal estate price decline. In the 3rd and 4th quarter of 2008, the consumer will spend a considerable amount less that they did in the 3rd and 4th quarter of 2007 because of this.
The housing crisis should peak in September or October of this year. We think the commercial real estate front will be taking a big hit due to energy and the poor consumer.
China will probably fall off a bit post Olympics. But will pick back up within 3 months we believe.
With big support around $124-125 per barrel, oil will possible test those levels next week.
Gold is up $8.90 today. The VIX is down almost 3% to 17.61.
Good Fortune from Trade-Equity.com!!!
$PreMarket Buzz$Looks Like a Higher Open!
The numbers are starting to come in.
Consumer spending slowed in this quarter. Fuel costs, real estate, slow wage growth have America questioning the next dollar they spend.
Dell beat earnings with solid numbers after the bell yesterday.
It sounds as if United and USAirways have broken off talks.
Currently with 10 minutes til open, the Dow Futures are up 44. Gold is up over $7.
The S&P is up 4.20.
This gives us an interesting outlook.
http://www.marketwatch.com/news/economy/economic_calendar.asp?siteId=
It looks like today will open up in positive territory.
Good Trading from Trade-Equity.com!!!
Consumer spending slowed in this quarter. Fuel costs, real estate, slow wage growth have America questioning the next dollar they spend.
Dell beat earnings with solid numbers after the bell yesterday.
It sounds as if United and USAirways have broken off talks.
Currently with 10 minutes til open, the Dow Futures are up 44. Gold is up over $7.
The S&P is up 4.20.
This gives us an interesting outlook.
http://www.marketwatch.com/news/economy/economic_calendar.asp?siteId=
It looks like today will open up in positive territory.
Good Trading from Trade-Equity.com!!!
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