Tuesday Outlook: Commodities, Emerging Markets

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Changes to the financial system are obvious. I don’t know if it makes things better or not. It will take someone smarter than me and some time before we know the answer.

In the meantime, earnings season is upon us. Earnings that beat lowered expectations are old ploys, but it will take something like that to prevent a dreaded trading range environment.

I’ll just keep this shorter than usual today with volume light and earnings news ahead. You have to give bulls credit for not allowing a similar powerful rally to fade quickly. Friday’s unemployment data was horrible, yet stocks rose. When markets rise on bad news you can be assured bears are tired and bulls emboldened. Let’s see what happens.

Have a pleasant day.

Disclaimer: Among other positions the ETF Digest maintains long or short positions in USO, SLX and UDN.

Comments

[ganeshji:]

I enjoy reading your work!

2008 Apr 08 08:54 AM

[rast1:]

I agree, it is always an enjoyment to read articles from David. Good humor.
But my guess is bulls havent won finally. Lets wait for the earnings period to be over.

2008 Apr 08 09:59 AM

[David Fry:]

Thanks.

2008 Apr 08 07:04 PM

[tudelson:]

thanks for making my life as an etf guy easier. your focus is generally on the money!!!!!!

2008 Apr 09 11:00 AM