David Fry's Market Outlook for Thursday

BIG WEDNESDAY at Pounders Beach, Laie, Hawaii [Oahu]
[Photo courtesy of family friend Chris Spezzano]

A now-and-again signature of bull markets are weaker Mondays and Fridays with stronger mid-week averages. Wednesday's bounce was more powerful than Tuesday's, and the NASDAQ recouped most of the losses it incurred on Monday. It was Big Wednesday man!

[Oh, and by way, I used to body surf this beach when it was "right" many years ago. Today, I'd break every bone in my body!]

So, what was the good news? Damned if I know! There was more buy-out activity, and folks threw aside the crummy employment number to focus on better factory orders. Always look on the bright side please.

Elsewhere, crude oil dropped again today as supply data hurt prices.

Let's go overseas, and this is the cheapest way to go I'm aware of...

Enough from Big Wave Dave! Ah, to be young again and back on the beaches of Hawaii letting my skin cancer slowly develop. Sun screen in those days? Are you kidding!?!

So the bulls had a good day and I guess all things considered so did we. The markets may tense-up before Friday's employment number. But then that's punditry, and I'm supposed to leave that to others.

Disclaimer: Among other issues, the ETF Digest maintains long or short positions in: NASDAQ 100 Trust Shares ETF (QQQQ), First Trust DJ Internet Index ETF (FDN), PowerShares Dynamic Semiconductor (PSI), PowerShares Dynamic Biotech & Genome (PBE), streetTRACKS Gold Trust ETF (GLD), PowerShares DB Commodity Index Tracking Fund (DBC), S&P 500 Index (SPY), MidCap SPDRs ETF (MDY), iShares Russell 2000 Index ETF (IWM), iShares MSCI EAFE Index Fund ETF (EFA), iShares MSCI Germany Index Fund (EWG), iShares MSCI Netherlands (EWN), iShares MSCI Emerging Markets ETF (EEM), iShares S&P Latin America 40 Index Fund (ILF), iShares MSCI Brazil Index ETF (EWZ), iShares MSCI Canada Index ETF (EWC), iPath MSCI India ETN (INP), iShares Trust FTSE-Xinhua China 25 Index Fund (FXI), iShares MSCI South Korea Index Fund ETF (EWY), iShares MSCI Australia Index Fund (EWA), iShares MSCI Japan Index ETF (EWJ), First Israel Fund Inc. (ISL).

Comments

[Marty From ...:]

How about a graph on the Zimbabwe market? I'm reading that their outrageous inflation is causing their stock market to soar, but it's not soaring fast enough to keep up with the decline in their currency.

2007 May 05 10:38 PM