Wednesday Outlook: Commodities, Emerging Markets

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Light volume combined with negative after inflation yielding cash reserves allowed bulls to do some “news cherry-picking”. A few, or one trading desk/hedge fund, was able to toss in a large buy program this afternoon taking charge of the tape. The menu entry of choice today was large cap tech.

When I looked for a few images to post today I came across one that showed motorists ticked-off about gas prices at $2.59. So, when you look at energy price declines today you must put things in some historical perspective.

That’s the news from Tuesday. Have a pleasant day.

Disclaimer: Among other issues the ETF Digest maintains positions in TLT and TBT.

Comments

[User 148223:]

Thank you David Fry for your beautiful work and thoughtful humor.

2008 May 28 09:04 AM

[Donald Johnson:]

That the market rallied on low volume is a worry. Will volume pickup today? Looks like it might. Oil continues to decline this morning while stock futures are up.

2008 May 28 09:08 AM

[Seaferer20:]

Reviewing David's weekly notations on the moving average graphs certainly helps me keep all four wheels on the road, i.e., a sanity check! Very simply - thanks.

2008 May 28 09:14 AM

[hmr:]

What 148223 said, above.

2008 May 28 09:36 AM

[vaduz:]

also thks from me. very useful thkis oversight.

2008 May 28 11:25 AM

[dukeb:]

Can somebody pass a Federal law prohibiting tenths-of-a-penny pricing for retail gallons of gas? (I hate laws, but I think that's what it would take in this case.)

2008 May 28 01:02 PM

[fatcat:]

thanks a bunch,David,useful as always..

2008 May 28 01:21 PM

[G23ROCKS:]

Great cartoon. It really puts things in perspective.

2008 May 29 10:37 PM