Oil was up on new Friday to $125.10pb. Up $1.02 for Fridays session.
Gold was down Friday to $917.50po. A drop of $5.20po.
Dow finished at the 11,326.32 level on Friday. Down 51.70 points.
What a day! I can only hope the weekend doesn't move as "sideways" as Friday did.
It looks like things might remain quiet until Tuesday when the FOMC announces "no interest rate move".
Everyone was watching the Oil Market today due to the comment from the Israeli Deputy Prime Minister Shaul Mofaz while speaking to a Washington audience today. Mofaz stated that Iran was close to a ``major breakthrough'' in its nuclear development effort that poses an ``unacceptable'' danger.
There is a deadline for the Iran Goverment to respond on Saturday. Their response could significantly move the Oil market higher on Monday if the Market feels threatened by their response.
The economic calendar here tells you the numbers that come out on Monday.
http://www.bloomberg.com/markets/ecalendar/index.html
This is a great video that offers insight to what the next leg down might look like.
Good Fortune from Trade Equity!!!
Friday, August 1, 2008
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