Monthly Archives: August 2008

REVIEW This weeks economic reports were better than expected. Housing sales increased, but so did supply. Housing prices continued to decrease, but not at the rate of recent declines. Q2 GDP was revised to +3.3% from +1.9% on inventory buildups and … Continue reading →

SHORT TERM: rally fizzles to end the month, DOW -171 Overnight the Asian markets were all higher, and Europe opened higher then closed +0.45%. At 8:30 the core PCE was reported up 0.3%, while consumer spending and incomes declined. Stocks gapped down … Continue reading →

SHORT TERM: market rallies on Q2 GDP revision, DOW +213 Overnight the Asian markets were mixed, but Europe opened lower and closed +1.45%. At 8:30 the Commerce Dept. reported that the revised Q2 GDP has been raised from 1.9% to … Continue reading →

SHORT TERM: market continues bounce off 1261 pivot, DOW +90 Overnight the Asian markets were mixed, and Europe opened lower but closed mixed as well. At 8:30, July durable goods orders were reported +1.3% and June was upgraded to +1.3% as well. … Continue reading →

SHORT TERM: market holds support closes mixed, DOW +27 Overnight the Asian markets were mostly lower following the selloff in the US yesterday. Europe open lower, but closed mixed. At 9:00 the Case-Shiller housing price index reported that prices had … Continue reading →

SHORT TERM: market starts week to the downside, DOW -242 Overnight all the Asian markets were higher, and Europe opened higher but closed -0.70%. At the open the US market gapped down to 1285, from fridays close at SPX 1292, … Continue reading →

REVIEW After a volatile week in the Crude market, a reported PPI inflation rate nearing 10%, and GSE’s FNM/FRE making new bear market lows, the market managed to hold its own. For the week the SPX/DOW were -0.4%, and the … Continue reading →

SHORT TERM: Crude sells off on word of Russian pullback, DOW +198 Overnight the Asian markets were mixed, but Europe opened higher and closed +2.20%. Stocks opened slightly higher then rallied to 1293, the high for the day, by 10:30. … Continue reading →

SHORT TERM: Crude oil rallies market closes mixed, DOW +12 Overnight all the Asian markets were lower, and Europe opened lower then closing -0.65%. US index futures were pressured overnight, then at 8:30 the weekly unemployment claims were reported to have improved … Continue reading →

SHORT TERM: market closes higher while FNM/FRE melt down, DOW +69 Overnight the Asian markets were mostly higher, and Europe opened higher while closing +0.75%. Stocks opened slightly higher to 1270, but quickly sold off to the 1261 pivot by 10:00. That … Continue reading →