Sunday, March 21, 2010

Pre-healthcare

Just some observations for a Sunday night:
  • CNN Money reported Dow futures down 100
  • Futuresource had them down 53
  • And the dollar is still firm after a strong Thursday and Friday
  • Which means commodities are weak
Now, I am not funny mentalist but if the bill fails then the dollar should go up and commodities get hurt. And if it passes, then what? Sell the news after buying the rumor? I have no answers and if the markets were open now (yeah, I know they are somewhere but I don't trade Singapore) I would not be trading anything. Too much dust to settle.

This is not a political blog so no comments in that arena, please.

8 comments:

美麗 said...

A good medicine tastes bitter. ........................................

steven said...

I wasn't so surprised the market rallied after today's opening, given its recent strength, but I did think it would turn back down and end down 50-75 points or so. This is just a very strong market, apparently, and continues to climb, seemingly no matter what. I am glad I am not trading it, now.

steven said...

Obama Pays More Than Buffett as U.S. Risks AAA Rating

http://www.bloomberg.com/apps/news?pid=20601087&sid=azz5FiyZHvMY&pos=2

Seems like we may be at an inflection point regarding the price we as a country will begin paying to borrow money. As the story says, part of the price will be "choking off growth."

Ramu said...

No reason to expect a pullback before the coming earnings reason. Its risky for shorts to take positions given how badly they were beaten the last year. I see this riding higher towards 82% retracement.

Quick Takes Pro said...

美麗,
So true. No spoonful of sugar today, however.

Quick Takes Pro said...

steven,
My linked in post (which goes to twitter, too) was not joking. It really is time to refinance my mortgage.

steven said...

Didn't know there was anyone who hadn't refinanced:) I believe we are setting up for some negative divergences on the weekly DOW visa vi RSI and MACD.

Quick Takes Pro said...

I am in a home equity line currently at 2.9% and maxed out. The refi would be to fix the rate before they zoom higher. A bit higher rate now and supposedly a lot lower rate later and for longer.