Daily Investment Interpretations

September 13, 2011

2011-9-13: (Thursday Night): The market indices rose again today in choppy action: U.S. stocks edge up with Europe in view, BRICS to Help Euro Zone; Stocks Finish Strong. The NASDAQ Composite advanced 37.01 points (1.49%) to close at 2,532.15. The Dow added 44.73 points (0.4%) to close at 11,105.85; the S&P 500 rose 10.6 points (0.91%) to settle at 1,172.877. Oil climbed to $89.07: IEA Cuts Forecast For Global Oil Demand; gold eased to 1,828: Gold tumbles. The VIX dropped 1.68`points to 36.91..  
    In the news: Sarkozy and Merkel to Hold Press Conference on Greece Wednesday, Chinese Looking To Buy Italian Industrial Assets, Not Bonds, Is Another White Knight Preparing to Ride?, and Wall Street Year-End Forecasts Updated . 
    The State of the Markets technical analysis, Technical Talk: Basing Process Continues.  
    Yesterday's story that the Chinese would buy Italian bonds turned out to be erroneous. The Chinese are seeking to buy Italian business assets. However, France' Nicholas Sarkozy, Germany's Angela Merkel, and Greece' Georg Papandreou will hold a conference call tomorrow, and the BRIC nations have indicated that they will bail out the Eurozone.
    Michael Ashbaugh's weekly column is entitled: High-headwind warning.
    In other news, Irwin Kellner writes: Give stimulus a chance. Meanwhile, Fund managers expect recession., and Mark Hulbert observes that Insiders betting heavily on stocks.
    John Prestbo says, Buckle up for marketís most vulnerable period.
    Finally, John Nyaradi writes The dollar makes an epic breakout. The importance of this is that a stronger dollar means a lower stock market, through lower exports and lower overseas earnings, and i entails lower commodity prices.
    Market futures are down ĺ % tonight.