Tuesday Outlook: Commodities, Global Markets

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That’s a wrap for a market featuring Da Boyz at work. It sometimes is pathetic to watch these trading displays but those can do it. Am I jealous? Sure. Give me some TARP money.

There isn’t much in the way of news based on the calendar this week. Next week is quadruple witching and earnings really don’t start in earnest until after the July 4th holiday. I see Texas Instruments reported good earnings and that will help things along. Perhaps the DJIA will only have tech in it eventually. With market prices at these levels the green shoots gang better prove it with earnings. If those don’t come through then bulls will have been premature. Interest rates rising won’t help the beleaguered housing industry either.

Great news today for the Fryguy—my new computer arrived and this old thing is about to get dumped. The bad news? It didn’t come with all the doodads necessary to make it function as advertised. So, I go from Dell Hell to Lenovo’s unique support circus.

Disclaimer: Among other issues the ETF Digest maintains positions in: IEF, TLT, TBT, UDN, DBC, DBA, EFA, EEM, EWZ and FXI.

Comments

[Anon.:]

Always good comments, David. Thanks.
Re INF (India Fund) : could you consider PIN (Powershares India) ? Thanks!

Jun 09 07:07 AM

[gdclarke:]

>So, I go from Dell Hell to Lenovo’s unique support circus.

Get a mac. First month will be hard, then you'll just wonder why it took you so long.

Jun 09 07:23 AM

[Maxe Paul:]

David, where is iShares Australia today?

Im getting the feeling you guys are jealous of us not being in recession, and your leaving us out in the cold, come on don't be like that, we will try harder to fail from now on!

Jun 09 07:47 AM

[prudentinve...:]

Dave, thanks again for your insights. The market is way ahead of fundamentals, even under the most optimistic, but still realistic, scenario.

The TARP-fueled trading desks must be sitting on enormous unrecognized gains, which they hope to reallze by unloading on their gullible victims. They have punished the short hedge funds so badly, that these funds no longer have the nerve to pull the trigger and initiate a sell-off. This means that the trading desks are the only ones who shall determine when to sell-off, and I doubt that they shall ring a bell at the top.

Jun 09 08:08 AM

[tunaman4u2:]

The tape at 3:30pm is clearly crazy... reverse head & shoulders being created? On what P\Es & what long term sustainability?

Jun 09 08:10 AM

[unfaire:]

Funny that UNG is only one quarter of what it used to be but my gas heating bill for my house didn't budge a bit.

Jun 09 08:40 AM

[David Fry:]

C'mon Aussie, Aussie, Aussie! I love you guys down under. How many people do you know there who drove all the way around your lovely island? We did and saw every square foot......er, almost....of it from Sydney, Melbourne, Adelaide, Albany, Perth, Broome, Fitzroy Crossing, Darwin, Alice Springs, Ft Douglas.................. Our Aussie friends said, "...You're doing what? You did what??!!" Yep.

When MAC can be used for all my programs I'll get one. I've been told you can get VMWARE or some such thing but then others say "don't do it"! Not gonna do it......wouldn't be prudent.

UNG? I don't give a rip about the MACD! It's just on the chart and I haven't removed it in the interest of time. So, I guess you didn't like the idea of using the baked beans then. (snicker)

Jun 09 08:46 AM

[john s. gordon:]

unfaire -

your gas bill is constructed using futures purchased 12 months ago, remember that your gas company (being a regulated monopoly unlike exxon etc.) is in the cost+fixed fee (CPFF) business.
> jack

Jun 09 08:58 AM

[DellRocks:]

From Dell to Lenovo(Red Chinese) ...that'll teach yah

Jun 09 09:28 AM

[corley10:]

If nat gas goes to $2-2.50 I will put all my assets into that puppy and wait for winter.

Jun 09 09:47 AM

[speeddaimon:]

Because Indian tech support is so superior? Plus, Dell's now come with preinstalled spyware! That they offer to remove for you for $50. If he hadn't gone lenovo, I would have recommended an HP.


On Jun 09 09:28 AM DellRocks wrote:

> From Dell to Lenovo(Red Chinese) ...that'll teach yah

Jun 09 10:11 AM

[AndrewBaker:]

Thanks, David. Your start says it all: low volume, lots of other people's cash, play games at will with little to bother you.

If Da Boyz can keep the market afloat until towards the year end, they hope something real (good) will occur. I don't think so, but it's sure stopping me playing leveraged financial shorts. So, I'll look at commodities, emerging markets, alternative energy and so on ... taking a little here and there, and maybe buying some small companies too, as they can move far in a short time for a quick return.

Jun 09 03:33 PM

[beenburnedt...:]

in 12 months I'll bet that my gas bill is not 1/4 of what it is today.


On Jun 09 08:58 AM john s. gordon wrote:

> unfaire -
>
> your gas bill is constructed using futures purchased 12 months ago,
> remember that your gas company (being a regulated monopoly unlike
> exxon etc.) is in the cost+fixed fee (seekingalpha.com/symbo...)
> business.

Jun 10 01:17 AM

[pielcanela:]

David,
Would you please publish a glossary of Fryisms; e.g., Da Boyz, Chucky, etc., to help us less hip readers understand whart you're saying. Thanks.

Jun 10 07:24 AM

[harammph:]

The Great David Fry has been using a Useless tool in all of his Charts, every single one of them.

Go back and view previous articles, Its a Useful Tool after all.

You are not only a Hypocrite but are unable to take criticism as well, Narcism?

Jun 10 11:37 AM

[mcc99:]

I don't care if you're right or wrong, I just get a huge kick out of your reporting style.

Jun 15 10:29 AM