Tuesday Outlook: Commodities, Emerging Markets

<< Return to page 1 - Bear Returns













































A lighter than average volume day in the middle of summer is not unusual. There continues to be serious problems in financials. The Russians stated they were dumping FNM and FRE. Further, the action on the tape for MER and others was particularly disturbing since it might herald a very serious problem with another shoe[s] to drop.

It’s the end of July this week and Friday we get employment data. The former could cause some tape painting by bulls while the latter will create fireworks one way or another.

Have a pleasant day.

Disclaimer: Among other issues the ETF Digest maintains long or short positions in MZZ, IWM, TWM, QQQQ, QID, SMN, IEF, PST, IEF, PST, DBC, DEE, USO, XLE, EFA, EFU, EEM, EEV, EWJ, EWV, EWZ and RSX.

Comments

[lavalyn:]

Not that it hasn't been obvious for a while, but Yahoo Finance numbers will be arithmetically accurate when volume is less than 2^32=4294967296. Something about computer addition and that number. It *should* be a trivial thing to fix, but instead they'll just let numbers roll back to zero if the sum goes over that number instead.

2008 Jul 29 08:43 AM

[Forone:]

The Nigerians, Iranians and Venezuelans have been taking clockwork turns efficiently producing "geopolitical uncertainty" instead of efficiently producing oil. Why is the market freshly horrified every time? I thought the story was that after the third false alarm everybody is supposed to ignore the little boy who cries "wolf!"

2008 Jul 29 09:46 AM