I guess most everyone is now on the same page too, admitting that we are in a recession. Oil is still over $100 per barrel ($106), we continue to lose jobs every month, home prices keep falling, this week we found out there are 8,000 foreclosures per day, and the US Dollar continues to drop; 3 airlines also shut down this week. These are not signs of a 'good economy' that the talking heads and 'experts' keep telling us about!
In the news, RIMM was up a bit this week on strong sales and earnings. The financials (XLF) basically followed the the market up this week. Gold fell briefly below $900. We also saw some action in the commodities following the planting report on Monday.
This week the FXI (China ETF) also broke out of it's downtrend (mentioned last week) -lets see if it holds. AAPL, WMT, and GE also continuing an uptrend. FSLR was up with huge volume on Friday -is this a double top?
Next week: Earnings reports begin -we should start to get a better feel for market direction.
News stories:
Who Needs Jobs When You Have Stocks?
Overdue Consumer Debts Highest Since 1992, ABA Says
Employers in U.S. Cut 80,000 Jobs, More Than Estimated; Jobless Rate 5.1%
US Auto Sales Fall in March
Home Price Reversion to Trend
Stay Away From Long Bonds
Dollar Bottom Proves Elusive as G-7 Meets, Bearish Bets Double
Aloha Airlines halting passenger service
Other stories:
Leveraged ETFs: A Value Destruction Trap?
Two popular cholesterol drugs may not work
81 percent of Americans think country on "wrong track"
Stocks and Indexes mentioned in this blog are for educational and illustration purposes only.
Posts
No comments:
Post a Comment