Intraday Market Thoughts
Archived IMT (2009.04.30)
by
Apr 30, 2009 21:15
The S&P500s best month since March 2000 ends with the bankruptcy of a major US auto company, which will result into the US gvt owning 8% of the company and the Canadian govt 2%. Shareholders and bond holders have lost out. Followers of candlesticks will notice todays price action having formed a bearish doji. Yesterdays post-FOMC rally was attributed to 2 misleading factors (i) Fed slightly tempered its negative outlook; (ii) and soaring bond yields pushed money away from bonds to stocks. Playing the second derivative of economic data can be dangerous as economic deterioration did slow back in Q4 2007 and Q4 2008 only to re-emerge later. And have not even mentioned the next week's stress tests...
Latest IMTs
-
Of Gold Extensions مقياس إمتدادات الذهب
by Ashraf Laidi | Apr 15, 2024 16:38
-
Bitcoin performance & Miners Prehalving
by Ashraf Laidi | Apr 9, 2024 17:07
-
English Translation to Arabic Interview
by Ashraf Laidi | Apr 7, 2024 21:01
-
فشل الفدرالي في إقناع الأسواق
by Ashraf Laidi | Apr 6, 2024 14:17
-
Typical Errors on Gold, Silver, USD
by Ashraf Laidi | Apr 1, 2024 16:14