Daily Investment Interpretations

February 2, 2010

2010-2-2:  The markets have moved up again today. The NASDAQ Composite rose 18.86 points, (0.87%) to close at 2,190,06, the Dow gained 111.32 points (1.09%) to close at 10,296.85, and the S&P 500 added 14.13 points (1.3%) to close up at 1,103.32. Oil jumped up to $76.90 a barrel. Gold ended at $1,118. The VIX dropped 1.11 to 21.48.
 
   The markets were up today because Pending home sales up 1%, recover from Nov. plunge, Best two-day rise in three months
   
The shape of the market plots, below, suggest that at least a few days of recovery are in the offing, and this could be the beginning of another rise from a dip. However, the indices are well below their 50-day moving averages, and it was time to sell
   
I won't get a scheduled update from my investment advisory services until just before the market opens tomorrow.
    As of today (Tuesday), my investment advisory service is still in cash. If that changes, I'll let you know.
    The article The world is starting to worry about China observes that the Chinese markets are already down 10%, and that arguments that the Chinese government is only tightening up for a few weeks is typical of the classic "this time, it's different" refrain. 
    Paul Farrell warns Our debt time bomb is ready to go ka-boom. Paul Krugman is also warning about a potential second leg of this recession.
    Stock market futures are neutral tonight.