Daily Investment Interpretations
November 4, 2011
(Friday Night): U.
S. stock market indices fell somewhat today because: Summit locates little common ground on euro zone,
Jobs Report a Mixed Bag; New Job Growth Just 80K But Unemployment Rate Dips.
Composite slipped 11.82
points (-0.44%) to
close at 2,686.16.
The Dow declined 61.23
to 12,044.47; the S&P 500
fell back 7.92
to settle at 1,253.23. Oil rose to 94.49; Oil reverses course to end at 3-month high;
gold slid to 1,757. The VIX dropped 0.34
points to 30.16.
After closing yesterday at 1,261, the S&P 500 opened 10 points lower at 1,251. It then proceeded to work its way lower to 1,239, and then back up to close at 1,253, around 8 points below yesterday's close... a typical readjustment after two days. Meanwhile, the headlines continued to drive the computer-driven trades of the high-frequency traders (HFT's): Report: Papandreou To Step Down In Deal To Back Greek Bailout , G-20's continental divide,
Howard Gold advises us that You canít outguess this broken market. This time, it really is different, and trying to guess which way these markets are going to go based upon what they've done in the past isn't (or at least, isn't very) applicable.
But Mark Hulbert tells us that our current market action: Looks and smells like bear-market rally. Investor sentiment is reaching dangerously optimistic levels.
Brett Arends argues that Greece is doomed, so buy Greece!
Another article tells How to profit from Fed inaction.
And yet another article asks: Conservatives thwarting economic growth?
State of the Markets contributions for today include:
Technical Talk: Volatility Doesn't Impact Current Read Basically, this says that despite the thrills, chills, and spills in today's stock market, it has performed like a normal retrenchment after two strong up days.
The real news tonight: Greek Premier George Papandreou has survived his confidence vote: Greeks seek new coalition.
Merkel: G-20 Commitment to EFSF Fund Weak
Italy Agrees To IMF Monitoring of Reform Progress
Eurozone Services PMI's Below Expectations; Show Contraction
And that wraps up another week.