Stocks moved sideways all day – except the last hour when it went straight down – ending down 224 points. Stocks are down to where they can easily test their recent lows again. If they break through, the bottom is way down there somewhere. Bonds moved up (decreased interest rates) with the vaporizing sentiment about […]
Hurrah!!!!!! The election is here at last, and it will be all over today. Markets love certainty, and the election provided an unwanted level of uncertainty in the financial markets. My interpretation of the numbers today, is that the markets all turned today, and will be looking different in the future. But, how will the […]
Stocks soared today, ending up 413 points. Everyone is thinking that the bad news is over. Don’t count on it.
Bonds, the Dollar and Gold went sideways today.
Oil and gasoline perked up a little, and are reacting to a threat of reduced oil production by OPEC.
In the news today….
Is the bad news over?? Here is […]
Stocks acted rationally today. They were up on hopes the bill would be passed by Congress, and when it did pass, it fell like a rock – reality had set in – this bailout may not work, and the markets won’t be able to tell for several weeks. This causes uncertainty – and uncertainty is […]
Stocks roared up today on the idea that Congress will pass the bailout; and rose 485 points.
Basically all the other market unwound part of the gains/losses they made yesterday.
In the news today….
Congress is talking about having a new bill drafted for the bailout. The people who voted against the bill yesterday are saying they want […]
Stocks were up today. They were up at the closing bell because all the statements coming out of Congress were positive – “a deal is very close.” After the closing bell, it all fell apart inside the Oval Office – or at least the truth came out.
Tomorrow is easy to predict right now. Stocks will […]
All markets moved sideways today waiting with baited breath to see what’s going to happen with the bailout.
In the news today….
The main news today was that Congress rejected the Paulson/Bernanke $700B bailout plan. Sen. McCain stopped his campaign to work on the bailout exclusively – even cancelling Friday’s debate. Sen. Obama said he would work […]
Stocks surged again on the government bail out plan. Stocked ended DOWN on the week. Bonds fell in sympathy – with interest rates soaring.
Dollar fell slightly against the Euro, and gold corrected slightly. See my purchase advice on gold below.
Oil and gasoline rose dramatically, and it’s just like the good old days having oil jump […]
I am going to try an experiment – trying to write the economyguy while traveling throughout the world. That means the timing of the articles might be affected, or I might miss an article if I get into a “computer unfriendly” area. But, assuming I can connect to the internet, all should be okay. I’m […]
Today’s markets were jolted by a volatile oil price. Oil started out lower, then headed up at the end of the day, gaining over $4.50/barrel. Stocks started out up, and the headed back to yesterday’s close, and then headed way up. Stocks totally ignored the rising oil price, and instead decided to concentrate on the […]