Tuesday, February 21, 2012

Evening Thread

The talking heads on the TV were focused on the Dow Jones 30, and in the meantime about 5000 other stocks were trading. The major indices finished essentially flat.

We are presently seeing less correlation than we saw much of last year: some stocks are going up while others are going down. In normal times, this would be healthy. Sector rotation or something. BIDU shown above: too late to sell, probly too early to buy.

Afternoon Thread


Toes is ready, ladies.  Show him your ...
The markets did not jump on the Greece bailout news today.  That's different.  It very well may be that news from the continent cannot be anything but and anchor from now 'til ....  ???

Crude continues to be a drag on transports and if there is no relief soon it may whack the retail sector.

Morning Thread

Gator's Chart of the Day: Crude Oil
Crude has been trading in a fairly tight channel for three months.  The range has generally been from 96 to 103 but after closing at a new high on Thursday it has gapped up and is holding (as of Monday night.)

News that Iran has stopped selling to the UK and France is causing increased pressure to the upside and U.S. gasoline prices are spiking too.  They are already at seasonal highs and news reports are predicting the national average to exceed $4/gal by April.

I expect transports will struggle short term.  They have been lagging of late and these prices will not help them.