Daily Investment Interpretations
May 11, 2011
(Wednesday Night): The dollar
rose and the
markets fell today. The NASDAQ Composite lost
26.83 points (-0.93%)
at 2,845.06. The Dow retreated 130.33
to close at 12,630.33, while the S&P 500 dipped
15.08 points (-1.11%)
to close at: 1,342.08. Oil dropped to $99.52;
Gold declined to $1,5104
The VIX rose 1.04 to 16.95.
David Moenning sums up nicely the gap between the frothiness of the news and the underlying realities: Making It Difficult. He observes that news mavens come up with all sorts of excuses why the market has gone up or down when, in reality, it depends only upon the dollar.