Daily Investment Interpretations
June 18, 2010
The markets closed up slightly again today: Another up week for stocks.
Today was options expiration day, so the significance of today's action is
The NASDAQ Composite advanced 2.64
to close at 2,309.80, the Dow gained 16.47
to close at 10,450.64,
and the S&P 500 added
to end at 1,117.51.
Oil ended at $77.35 a barrel, while Gold ended the day
at a new high of $1,258. The VIX
Fed in a tight spot if growth slows. This article observes that the Fed has fired about all the bullets it has. The recovery is fragile and vulnerable to shocks.
Chuck Jaffe writes: Bank reform loopholes are roadmap to trouble. Mr. Jaffe echoes Paul Farrell's warnings about another bubble and bank catastrophe ahead. The Wall Street/ banking lobbies are pushing hard and probably successfully to undercut banking reforms.
Peter Brimelow writes Permabear is bearish The permabear is Robert Prechter of Elliott Wave fame. He suggests a trap in 2012, followed by a decline of greater than 90% by 2016.