Daily Investment Interpretations

September 12, 2011

2011-9-12: (Monday Night): The market indices plunged again today and then rallied into the close: Quite a stock comeback. Dow closes below 11,000, China to Buy Italian Bonds; Stocks Rally. The NASDAQ Composite advanced 27.1 points (1.1%) to close at 2,495.09. The Dow added 68.99 points (0.63%) to close at 11,061.123; the S&P 500 rose 8.04 points (0.7%) to settle at 1,162.27. Oil climbed to $89.07: Oil up; gold eased to 1,828: Gold tumbles. The VIX rose 0.07`points to 38.59..  
    Today's action revolved around worries about Europe: Bloomberg: French Banks Face Downgrade at Moody's, Papandreou Says Greece Won't Default; Makes Additional Cuts, Reports Out of G-7 Are Not Encouraging, Greece Only Has Enough Cash Until October- Official, Greek Default Can't Be Ruled Out- German Official and, and Junker: The Eurozone Will Defend the Euro; Could Increase Bailout Fund Size
    The State of the Markets technical analysis, Technical Talk: Bulls Trying To Hold The Line.  
    Fitch downgrades Toyota, cites forex risk, Australia 2011 deals target U.S. firms- survey
    Massive default is best way to fix the economy This article by Brett Arends is, I think, better than it sounds. He's not talking about U. S. sovereign default, but about individual homeowners declaring bankruptcy and walking away from their mortgages. Not that it's likely to happen, but his article makes entertaining reading.
    Market futures are up tonight.