Daily Investment Interpretations

May 16, 2011

2011-5-16 (Monday Night):  The markets fell again today as the dollar rose against the Euro. The NASDAQ Composite dropped 46.16 points (-1.63%) to close at 2,782.21. The Dow lost 47.38 points (-0.38%) to close at 12,548.37, while the S&P 500 retreated 8.3 points (-0.62%) to close at: 1,329.47. Oil dropped to $96.95; Gold slipped to $1,491. The VIX climbed 1.17 to 18.24. 
    One factor may have been the arrest of the International Monetary Fund's Dominique Strauss-Kahn on sexual assault charges.
    Stock market futures are down again tonight, presaging another bad day tomorrow. However, so far, the market indices are still comfortably above their 50-day moving averages.
    TopStock Portfolios observes that with the markets held hostage to hedge-fund computer games, it's hard to know what's really going on in the underlying markets.