April 14, 2009
to close at 1,626,
and the S&P
to close at 842. Oil
slipped to $49.08,
backed off $3.80 to close at $892.00. The VIX
remained essentially unchanged at 37.67.
Michael Ashbaugh's Charting similarities to Nasdaq's '03 low
concludes that "U.S.
markets remain within a near-term uptrend, and the path of least
resistance is higher."
Another technical advisory service to which I subscribe describes the
markets as being currently overbought and primed for a correction, but
advises that as long as the tide is running, go with the flow. Just
tighten up your stops and be ready to jump ship when they
Sachs: Green This Morning, Hurricane Tonight?
and MV Weather
Report: Earnings Tornando at Goldman?
, the authors note that Goldman Sachs might have buried its losses in the
unreported month of December, allowing it to present good news now. In Permanent Link to Bush budgeting lives — at Goldman Sachs,
Paul Krugman implies that this is exactly what Goldman Sachs has done.