Tuesday Outlook: Pre-Labor Day Malaise

|
Includes: DVY, IEF, IVE, IWM, IYR, IYT, MDY, QQQ, SPY, UDN, UUP, XHB, XLB, XLF, XLP, XLV, XLY
by: David Fry


Rainy Days and Mondays

It’s another occasion to post Thomas Lorimer’s print that reflects current conditions. Without a firm buyout/bailout of Lehman (LEH) or any concrete rescue proposals for Freddie Mac (FRE) and Fannie Mae (FNM), despite a successful debt sale, stocks quickly gave back all Friday’s gains and then some. So the financials-induced cloud over the market from Thursday dumped rain yesterday on extraordinarily light late summer volume. Breadth was as poor as you might expect.

click to enlarge





























Photobucket


























Go to page 2 - Commodities, Emerging Markets >>

Comment on this article >>