Hi Bill; Well a 5% sell off when it comes if no more than that,
still won't pull us back to the 7700 mark.
The doggone DOW Meag/tail cap index I'm running sure is doing
tricks I'v not seen before. The tail is wipping back and forth
from one day to the next, I don't have any idea of what it
really means, but it just reminds me of a happy puppy.
Today I think we had 6 sell programs, and 9 buy programs
kick in on the NYSE, this program trading must have something
to do with the way it's waging it's tail. My guess is the
Sell programs run shorting , and turn right around and start
covering but at a subdued rate.
The bonds sold off late, which kicked up interest rates a bit,
which in turn could pull some cash away from stocks tomorrow,
that and with the Friday fears.
Beside that the dollar has been inching down several days,
at a rate more than enough to cause more down side than we have
seen, so maybe tomorrow the market will give to the down
pressures that have been building for the last few days, that
she has held her gains this well in spite of them
has surprised me.
The url I check for foreign markets is not working at this time,
so I'm in the dark there.
I'l be looking for a special or two tomorrow, well one anyway
I can't afford two. <G>
If oil will stay somewhere close to as cheap as it is, for a while
longer it will stimulate other areas as we go into the summer,
the effect seems to take a good while before it shows up in profit
margins maybe not even till fall, energy is in the cost of every
thing; just seems that the linkage takes longer than I
expected it to before it gets into earnings reports and helps or
hurts the rest of the market. Cheap oil will in time slow down
the area I work in but help out the rest of the country,
I better get moving and get back offshore while the table
still has something left on it.
Jim
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