Screenshot from http://finance.yahoo.com/6/25/2009
6/24/2009
6/22/2009
Monday - June 22, 2009
Screenshot from http://finance.yahoo.com/The markets slide today. S&P500 dropped -3% and is below 900. It is slightly below the 200 day moving average which is about 900.76. Oil dropped -$2.52, at $67.50 a barrel.
The drop in everything is partly due to the World bank said that it expected the global economy to shrink by 2.9%. It's last prediction was 1.7% in March. When the World Bank is seeing worse in economy, one can guess the reaction in the markets - exactly what we saw today - selling from the rally we've had since March.
I see today as a reality check. Investors are jumping too far ahead of fundamentals. Less bad news are not good news.
Unfortunately to me, Apple (AAPL) is still very high at $137.17. Steve Jobs had liver transplant. It looks like there is a chance that he will come back.
When S&P hits ~850 or Dow hits just below 8000, the market will be 10% from it's year high. It will be time to get in.
The drop in everything is partly due to the World bank said that it expected the global economy to shrink by 2.9%. It's last prediction was 1.7% in March. When the World Bank is seeing worse in economy, one can guess the reaction in the markets - exactly what we saw today - selling from the rally we've had since March.
I see today as a reality check. Investors are jumping too far ahead of fundamentals. Less bad news are not good news.
Unfortunately to me, Apple (AAPL) is still very high at $137.17. Steve Jobs had liver transplant. It looks like there is a chance that he will come back.
When S&P hits ~850 or Dow hits just below 8000, the market will be 10% from it's year high. It will be time to get in.
6/21/2009
Friday - June 19, 2009
Screenshot from http://finance.yahoo.com/The markets closed slightly up on Friday. Over the week, S&P500 was down -2.6%, the Dow was down -2.9% and the TSX lost -3.35%.
As summer is here, the markets are expected to slow down.
By the way, happy birthday to BFM! (bones has started shrinking) :|
6/18/2009
Thursday - June 18, 2009
Screenshot from http://finance.yahoo.com/The fall has paused after 3 days in a row. S&P gained +0.84% or 7.66 points. Volume was low though.
6/17/2009
Wednesday - June 17, 2009
Screenshot from http://finance.yahoo.com/Three days in a row the market has dropped. S&P500 is down -3.75% since last Friday. Volume is not bad. Investors seemed to be rushing to cash out from the earlier rally as they realize that the fundamentals to lead the market higher are lacking.
Fedex (FDX) announced it's latest quarter results which are better than expected; however, they issued gloomy outlook. They expect that their first two fiscal quarters in 2010 will be extremely difficult. I see transportation as a second messenger in signaling how the economy is doing. When businesses are good, the need for transportation increases.
President Obama released his plan for financial regulation. Analysts say that the regulation could hurt banks' profits and their competitiveness. The proposed regulation demands that, among other things, an increase in capital, which lowers the banks' leverage and potential profits. However, it might take 2-3 years for negotiation before the plan turns into law. How far the changes would be remains an open question. My view is that whether there is regulation or not, banking is the biggest player in the game of economy, just like in the board game - Monopoly.
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