All the economic news from factory orders,industrial utilization & job cuts are signalling the low point of this deep recession.....we are in a TROUGH cycle now.....
More bad economic news on job loss is expected before open on Friday....no number like 500,000 will shock this market..as it is all expected...the worse the number ....SPEEDIER will be the recovery.....
Loss on index range from 1.03% to 1.30%......
All my ETF are down....
Crude is hitting new LOWS again...great for stimulating world economy!!!
In Canada political turmoil was avoided by Governor General granting suspension of parliament till 26Th of Jan....this will help in building consensus for Stimulus & Budget after President Obama is sworn in & implemented his own Stimulus & priorities.
@ 12.24 PM following are green in my watch list :
TOL,PHM,BIDU,NDAQ,GG,ABX,DUG,LULU,
ICE,SOHU,NYX,IBN,URE.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
Right at 2pm the mini S&P took a dive. Someone opened the toilet and flushed. Any reason for the dumping at 2 pm?
Thanks
Hi Standards,
Wall Street will remain this way...Few hedge funds can take this market wherever they want...
The good thing is that we did not close near LOW....actually we were 109.27 points above low on Dow 29.7% recovery by close....technically a healthy sign.
Many buyers want in near lows!!!
Saleem
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