Thursday Outlook: Commodities, Global Markets

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Whatever today was really about you’re left with the feeling, “there’s something rotten in Denmark”. All of us sheeple will find out whatever happened when we’re supposed to and not a minute before.

Earnings will still be flowing in and EBAY has a stinker tonight but others seem just okay.



We’ll get jobless claims tomorrow morning followed by Leading Indicators. If we’re lucky, we’ll find out what today’s hullabaloo was all about tomorrow.

Let’s see what happens and you can follow our pithy comments on twitter.

Disclaimer: Among other issues the ETF Digest maintains positions in: SPY, VTI, MDY, IWM, RSP, XLB, XLY, UDN, GLD, DBC, USL, XLE, EFA, EEM and EWC.

The charts and comments are only the author’s view of market activity and aren’t recommendations to buy or sell any security. Market sectors and related ETFs are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period. Chart annotations aren’t predictive of any future market action rather they only demonstrate the author’s opinion as to a range of possibilities going forward. More detailed information, including actionable alerts, are available to subscribers at www.etfdigest.com.

Comments

[rick12345:]

My guess is housing rather than jobless claims. Either way, all of the weekly/monthly repetitiveness is getting boring.

Oct 22 05:13 AM

[fatcat:]

Bank Shill Bove...I don't know how he shaves all those faces each morning...oh,wait...he has a beard.

That explains it..

Thanks again for your work,Dave.

Oct 22 05:17 AM

[Daniel Herkes:]

I think all those dead loans are starting to be a problem. How long can any bank hide bad assets? Here in N. Illinois, and this is subject to locale, people stand around at the gas pumps, in grocery store lines - wherever - and talk about the "economy." Again, subjectively, people are worried and skeptical. The trust is going fast.

Oct 22 06:50 AM

[bottoms-up:]

Mystery selling...

I think all of it is a mystery as there is zero transparency. It's like sitting at a roulette wheel, but not being allowed to look under the table...

Oct 22 08:17 AM

[MikeD71:]

Mystery? The only mystery I see is what brought us to 10K. And rick12345...I feel ya. All of this has become more than tedious. To the point that I'm considering a complete media/news blackout for an as yet undertermined amount of time.

Oct 22 08:38 AM

[David Fry:]

I don't write the headlines at Seeking Alpha. It's something they do. Sometimes I agree with it and other times not. I put my own headline and image up. One would think that's sufficient.

Just one man's opinion.

Oct 22 08:58 AM

[robert.b.fe...:]

Regional banks don't have resistance or support. They just seem to be hanging there like the sword of Damocles. Uncle Buck is continuing with the beat down while Helicopter Ben adjusts his blinders. I expect tomorrow to be another Friday blood bath but who knows? The spin doctors will be humming to make bad numbers in every economic facet seem not as bad as we thought. There could be some opportunities in this though. Got cash?

Oct 22 09:07 AM

[MikeD71:]

Mr. Fry,
Aggravation not directed at you personally...just general malaise at this point. It's all becoming tiresome...


On Oct 22 08:58 AM David Fry wrote:

> I don't write the headlines at Seeking Alpha. It's something they
> do. Sometimes I agree with it and other times not. I put my own headline
> and image up. One would think that's sufficient.
>
> Just one man's opinion.

Oct 22 09:15 AM

[ECONOMICS 101:]

Brian Semkiw as an avid watcher of the markets believes there is no "anchor' in determining what is good or bad to buy.
"There is an invisible hand at work and we should all be very careful going forward" says Brian Semkiw.

Great info and summary David Fry.

Oct 22 09:34 AM

[MarvinMBA:]

This market has a lot of negatives...but thats providing the amazing opportunies...if you think there will be a world tomorrow, there are opportunies out their such as GE and INTC believe it or not. Just look for the threats and opportunities and take advantage while others remain in shock...MarvinMBA

Oct 22 10:29 AM

[AndrewBaker:]

Well David, I've been short base/industrial metals for a while and stayed in as the narrow Bollinger band threatened resolution but didn't give any, so I went with my feeling that prices would drop when the change did come. However, the band has now widened and the uptrend that stopped in August has re-commenced. So ... if that does not break back down in the next two trading days (Fri and Mon), I'm maybe gonna go long myself.

Oil: I'm now thinking that is headed back to $100 a barrel, and I'm coming in on the long side if the price doesn't fall back by Friday close.

Gold and Natural Gas: I'm still long, and will hold through any short-term correction.

These are just IMHO so DYOR.

Oct 22 12:28 PM

[David Fry:]

Andrew: Don't think so much! Just kiddin'!

Oct 22 12:45 PM

[TK5656:]

Mr. Fry: I really enjoy your columns. I'm still learning "chartese" but you make it very interesting. TK

Oct 22 02:13 PM

[Diogenes of...:]

How come the market and many individual stocks have been going up faster than Iron Man with a new Arc Reactor, but we all hear about are the "reasons" the market is doomed? Doesn't anyone like to make money anymore?

Oct 22 04:30 PM

[ebworthen:]

Oil and gold = physical commodities valued by all cultures.

Yes, that little gas irrigation pump in Africa needs gas, and all culture value gold as a currency, jewelery, tooth filling, and commodity in general.

Buy equities that represent digits in a database if you wish, when the shi* hits the fan the soft equities and commodities will have the value of toilet paper.

Oct 23 10:01 PM