Daily Investment Interpretations

February 22, 2010

2010-2-22:  The markets fell back slightly today. The NASDAQ Composite fell a paltrey 1.84 points, (-1.84%) to close at 2,242.03, the Dow backed off 18.97 points (-0.18%) to close at 10,383.38, and the S&P 500 closed down 1.16 points (-0.1%) to close at 1,108.01 Oil surmounted $80 a barrel, closing at $80.05 a barrel. Gold dropped $9, ending the day at $1,113. The VIX fell 0.08 to 19.94.
   
My advisory service observes that the bulls pssed an acid test on Friday when they failed to crumple in the face of bad news. They may fall back a little today, but their general direction is up.
    Paul Farrell writes:Death of U.S. capitalism: The final 10 scenes.
    Paul Krugman is warning of the threat of renewed deflation as the stimulus runs out: Permanent Link to Inflation Perceptions, and Permanent Link to Is the Fed Getting Ready to Tighten?.