David Fry's Daily Market Outlook

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 |  Includes: IYT, QQQ, SMH
by: David Fry

Oil and Gold have been pushed and pulled in the same direction for the past few months. It hasn’t been as fun or profitable as the tango but you get the idea.

David Frys Market Outlook 24 10 06

David Frys Market Outlook 24 10 06

Tech stocks were down today as we indicated they might last night due to Texas Instruments Inc.'s (NASDAQ:TXN) disappointing earnings report. We’ve been discussing the overall weakness in semiconductor stocks as one important company after another has disappointed causing popular Semiconductor HOLDRs (NYSEARCA:SMH) (Semiconductor Holders) to be a drag on the overall sector.

David Frys Market Outlook 24 10 06

David Frys Market Outlook 24 10 06

David Frys Market Outlook 24 10 06

David Frys Market Outlook 24 10 06

David Frys Market Outlook 24 10 06

The markets made a pretty impressive comeback today with bull’s still showing they’re in charge of the major market indexes. There isn’t much point to discussing anything else today since future market action will cue off Bernanke & Co., Treasury auction results and, naturally, more earnings.

Let’s see how all that goes.

Disclaimer: The ETF Digest maintains positions in: iShares Lehman 7-10 Yr Treasury Bond ETF (NYSEARCA:IEF) and streetTRACKS Gold Trust ETF (NYSEARCA:GLD).