Daily Investment Interpretations

August 19, 2011

2011-8-19: (Friday Night):  The markets closed down again today: Closing Thoughts: What We're Looking For Now, Weekly losing streak at four. The NASDAQ Composite lost 38.59 points (-1.62% ) to end at  2,341.84. The Dow declined  172.93 points (-1.57%) to close at 10,817.65; the S&P 500 sagged  17.12 points (-1.5%) to settle at 1,123.53. Oil rose slightly to $82.73: Oil falls as global demand prospects weaken; gold leaped again to 1,855: Gold gains 6% in week, sets sights on $2,000, Gold and VIX's interesting relationship. The VIX inched up 0.38 points to 43.05
    Tonight's article,
Closing Thoughts: What We're Looking For Now, written by State of the Markets' Curtis Bergquist, offers a summary of where things stand:
"Summing up, my market tactics will key off of what I believe are the 2 most likely possibilities:

A third possibility is a break below last week's lows which leads to a replay of the September/October 2008 waterfall plunge. While I do not believe this case is likely to occur, it could. And thus we must all keep one eye on the exit."
    State of the Markets' David Moenning opened the day with Will It Be Different This Time?
 This was followed by the bad news: Citi Cuts Forecasts for U.S. GDP and S&P Earnings , Germany's PPI (Producer Price Index) Much Hotter Than Expected, Spain Announces New Spending Cuts and Measure to Boost Economy, Europe Update: Finland Refuses to Compromise on Greece, and Fed Conspiracy Theory?          
    The only good news was Market Mover: Fed's Dudley Says Foreign Banks Not a Focus. This news release poured oil on troubled waters.  
    So far, the markets have remained above their August 9th lows (1101 on the S&P 500).
    And that's about it for tonight.