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The Dow Futures Report
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Stocks Mostly Unch'ed
Thu, Apr 17 2008, 07:44 GMT
by Carley Garner
**Read my article “Tips and Tricks” in this month’s bonus issue of Stocks and Commodities!!!
Equity traders were caught off-guard with a hotter than expected PPI reading, but seem to be waiting for tomorrows CPI in order to determine whether the price pressure has trickled down to the consumer. After what seemed to be a short covering rally following the announcement stocks fell into negative territory.
According to the Labor Department, wholesale prices increased by a whopping 1.1% last month. The reading was well below the November reading of 2.6% (the highest jump in 33 years) but was the largest increase since.
For once, a merger and acquisition deal between Delta and Northwest wasn’t able to trigger an equity rally. Investors weren’t happy with the specifics of the deal and there are speculations on whether the cost savings and revenue benefits will be as attractive as what was originally expected. Perhaps Wall Street’s lack of enthusiasm has to do with the political and antitrust hurdles.
Also keeping a dark cloud over the market, crude oil futures rallied to new all time highs. The May contract nearly reached $114 per barrel leaving many wondering if we will ever see a break and again. As energy prices come back into the headlines it may begin wearing on already pessimistic views of the economy and corporate growth. If we are lucky, the seasonal tendency for the energies to find a top in mid-May will hold true. Until then, I believe that the major stock indices are destined for a retest of the January lows.
Please note: A mini-sized Dow chart is used because it is better for charting purposes, but trade recommendations are based the full sized Dow unless otherwise noted.
Dow Recommendations...
**There is unlimited risk in naked option selling and futures trading
Position Trade – Flat
Please note: A mini-Nasdaq chart is used because it is better for charting purposes, trade recommendations will denote whether a mini or full sized contract should be used.
Nasdaq Recommendation
**There is unlimited risk in naked option selling and futures trading
Position Trade – Flat
Published on Thu, Apr 17 2008, 07:45 GMT
Archive
- US Equities higher on better than expected pending home sales
Published On Wed, Jun 3 2009, 07:52 GMT - Sustainability of funding for economic recovery comes into question
Published On Thu, May 28 2009, 06:04 GMT - US Stocks rally as consumers sense recession may be bottoming
Published On Wed, May 27 2009, 06:17 GMT - US Stocks fall
Published On Fri, May 22 2009, 06:52 GMT - US Stocks retreat from early gains
Published On Thu, May 21 2009, 06:39 GMT
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