Daily Investment Interpretations
November 5, 2009
finally got back in the game today. The Dow regained the 10,000 level
and the NASDAQ leaped 50 points. We appear to be moving back toward the
next high after the pundits assured us that the bull run from March to
October was over, and that we were looking at a serious market
The NASDAQ Composite advanced 49.8 points, (2.42%) to end at 2,105.32, the Dow climbed 203.82 points (2.08%) to end the day at 10,005.96, and the S&P 500 garnered 20.13 points (1.92%) to 1,066.63. Oil fell $0.78 to $79.77 a barrel, while gold hit $1,090. The VIX dropped 2.29 to 25.43.
The reason for today's rally, at least ostensibly, a drop in jobless claims and upbeat remarks by Cisco.
The S&P 500 has risen 30 points from its close at 1,036 on October 30th to its close at 1,066 tonight. It's about halfway back to its previous high of 1,100. This is probably a good time to buy QLD or SSO, especially if the markets peak above their previous highs.
Tomorrow comes the official unemployment report.
Three articles are presented below.
ETFs aren't all equal
What if the Fed's wrong? This article asks why the value of gold is rising if the Fed is correct in assuming that inflation will remain under control for a while. (Uh--what about a falling dollar? What about the threat of a collapse of the dollar against foreign currencies? What about a fear-driven bubble?))
Why gold could triple