We may not test 11700 just yet. If Lehman Brothers can pull off a sale or raise money to survive, they may lead the financials out of the woods at least until earnings show with either positive or negative effects. Lehman lead the financials higher today.
The street is fearing that Goldman may have something unexpected on earnings.
On the 24th Bernanke will speak. From the close today, we could have a short term bull run til the 24th.
What a finish today!
Up 165 points on the Dow.
Oil down about $2 per barrel, while Comex GOLD August closed $1.10 higher.
LDK announced a 5 year contract and bounced up 7.15% today.
IPI was very strong today also. This stock was up 3.72% today, and up in a huge way this week.
DRYS was down over $20(from $93 to $73) per share the last 7 trading days and had a
nice bounce today, up 3.38% today.
Barring any oil mishaps this weekend, such as a pending strike in Nigeria or a hurricane, equities could have a nice short term run and if Bernanke does the what the market wants, there is room for the Dow to move further up at this point.
Good Fortune from Trade-Equity.com!!!
