Daily Investment Interpretations
July 24, 2009
Again today, there was a flurry of buying into the close, boosting the DOw and
the S&P 500 into the black. If there were a plunge protection team, this is
how it would work. By buying just before the close, it would be possible to
"move the markets" on relatively low volume. Then by holding the
stocks for a while, it should be possible to unload them without necessarily
The NASDAQ Composite 7.64 points (-0.39%) to 1,965.06, the Dow expanded 23.95 points (0.262%) to close at 9,093.24, and the S&P 500 added unto itself 2.97 points (0.3%) to end at 979.26 ... 21 points shy of 1,000. Oil ended the day up at $68.4 a barrel, while gold lost $2 to $953. The VIX fell negligibly 0.21 to 23.13, to close at a new lowest level since September, 2008.
2009-7-24 (Early Afternoon): After 13 "up" days in a row, the markets appear to be taking a little breather. Still, institutions are buying on dips. The markets' resilience to downturns is impressive. On the other hand, they are definitely overbought, and a short-term correction appears to be in the cards.