Daily Investment Interpretations

August 11, 2011

2011-8-11: (Thursday Night):  The markets roared back today in a reprise of Tuesday's action.: U.S. stocks surge, Lack of Bad News is Good News "Dow industrials rise more than 400 points, continuing Wall Street's most volatile week since 2008. Better-than-expected jobless claims and Cisco's results curb fears about the economy for now.". The NASDAQ Composite galloped up 101.47 points (459% ) to end at  2,492.68. The Dow powered upward 420.72 points (3.93%) to close at 11,142.30; the S&P 500 leaped  51.74 points (4.62%) to settle at 1,172.56. Oil jumped to $85.72; gold closed way down at at $1,755: Gold's win streak halted. The VIX fell 3.69 points to 39.30.   
    The proximate causes of today's giddy action? Jobless claims came in less than expected: Weekly Jobless Claims Fall 7K; Back Below 400K, Then there's: Hoey: 20% chance of new recession bout, Prices at the gas pump are falling, Market bottoms are a process, and Volatility makes one economist rethink outlook.  
    State Of The Markets Technical Talk: Base Formation In Progress
    Michael Ashbaugh notes: Bulls absorb second test of S&P 1,120.   
    State of the Markets offers these commentaries: Technical Talk: Base Formation In Progress, Trade Deficit Widens Again In June, Bloomberg Consumer Comfort Index Falls Again, White House Considering New Strategies to Stimulate Housing, Italy and France To Ban Short Selling at Close, and EU Market Regulator Bans Short Selling in Four Countries. The Underground Trader wonders why the media continue to quote 'experts" who have gotten it so wrong in the past: Yet Another Expert Opinion. And State Of The Markets Options Manager, Curt B., makes a Quick Comment: I (Still) Like The Odds
    Market futures are neutral tonight.