Dow was down today, 358.41 points to 11,453.42.
Oil(CL08Q) was up $5.09 to $139.64
Gold was up today, +32.80 (+3.72%) to $915.10.
Every sector was down today with the Financials right there on top of the losers.
We are headed south with BUD in the fight of their life, because the Belgians are coming on strong. This could be a fast dance to the finish.
With oil hitting a record high today, our economy is going to be constricted unless the Fed steps in with either a rate hike for interest rates or what they did in 2001 with currency intervention. The were on the market buying dollars. If they did it again, they would need to coordinate this action with other govs to make this really work. Their rhetoric worked 10 days ago, but the dollar was trending North when they shot it out. Now our Dollar once again is headed down.
We might bounce up on the open tomorrow and depending how high we bounce, it might be a selling opportunity in GMCR, QID, or SDS.
Good Fortune from Trade-Equity.com!!!
Thursday, June 26, 2008
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