Daily Investment Interpretations

February 22, 2011

2012-2-22: (Wednesday Night): The markets ended the day modestly lower: Stocks stay close to highs; Stocks Stall at Dow 13,000. The NASDAQ Composite declined 15.4 (-0.52%) to 2,933.17. The Dow drifted down 27.82 points (-0.21% to 12,938.76; the S&P 500 lost 4.55 points (-0.32%) to settle at 1,357.66. Oil ended unchanged at 106.10: Oil at highest since May 4; gold moved slightly higher to close at to 1779: Gold at 3-month high. The VIX was unchanged at 18.23.
    The markets marked time today (but the price of oil is continuing to ratchet upward).

    Marketwatch says: 
    Greek deal fails to dispel growth worries  "Rising fears that added layers of austerity will undercut growth threaten to overshadow investor relief over pact."
    Greek bailout not the rescue it seems: Darrell Delamaide   
    Dr. Irwin Kellner warns that Oil prices could derail recovery.  
    Heading off $5-a-gallon gasoline
    Existing-home sales rise
    S&P sees foreclosure inventory improving
    Transports sending false signal:
    Technical Indicator: Dow 13,000 under siege.    
    Matthew Lynn tries to interpret what
's going on in Europe in terms of game theory: Game theory shows crisis could end badly.
    PMI fans recession fears  "Business activity across the euro area contracts unexpectedly, raising recession concerns."
    Pressure back on Italian bonds' yields  

    State of the Markets articles include:   
    Technical Talk: Time To Take a Break? 
    Moving On  
    Eurozone Flash Purchasing Managers' Index Weak; Suggests Region May Slip Into Recession       
    Existing Home Sales Up Again in January; Inventory Falling  
    Investor's Intelligence Data Shows Bullish Sentiment Falls    
    Fitch Downgrades Greece's Bond Issuer Rating   
    Eurozone Industrial New Orders Above Consensus  
    China's Flash PMI Shows Growth Slowed For Fourth Consecutive Month  
    Market futures are flat again tonight.