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David Fry
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David Fry writes a subscription newsletter focused on technical analysis of exchange-traded funds, called ETF Digest (www.etfdigest.com). Dave founded the ETF Digest in 2001 and was among the very first to see the need for a publication that provided individual investors with information and... More
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  • SAUDIS LEND U.S. A HAND WITH OIL 3 comments
    Mar 20, 2012 7:58 PM | about stocks: SPY, IWM, QQQ, XLK, SOXX, ADBE, IGV, BHP, XLB, XLI, TOL, ITB, IYR, XLY, BAC, XLF, XLU, DVY, IEF, UUP, FXE, GLD, GDX, SLV, JJC, DBB, DJP, USO, USL, UGA, UNG, XLE, JJG, EFA, EEM, EWA, EWC, EWY, EWG, EWI, GREK, EWZ, RSX, EPI, FXI

    Someday we might understand you can have all the oil in the world, but without refineries for processing it won't necessarily affect gas prices. Saudis stated Tuesday they could immediately boost supply to stave off any shortages as noted by Forbes. Is it a mere coincidence that Obama is scheduled to deliver a speech on energy Thursday in Cushing, Okla.? Some things are just a little too transparent.

    In any event, oil (NYSEARCA:USO) prices slid over 2% on the news. Gold (NYSEARCA:GLD) also continued to sell off as did most commodities (DJP and JJC). Commodities were hurt by ongoing softening in China and remarks by BHP chief saying iron ore orders from China had gone flat. Recently suffering bond markets (IEF & TLT) rallied slightly while the dollar was also barely changed.

    On this 'Turnaround Tuesday' stocks were lower as investors digested mixed news first from Adobe (NASDAQ:ADBE) with a disappointing report and sluggish Housing Starts (698M vs 706M prior) but building permits were higher (717M vs 682M).

    <READ MORE>

    Stocks: SPY, IWM, QQQ, XLK, SOXX, ADBE, IGV, BHP, XLB, XLI, TOL, ITB, IYR, XLY, BAC, XLF, XLU, DVY, IEF, UUP, FXE, GLD, GDX, SLV, JJC, DBB, DJP, USO, USL, UGA, UNG, XLE, JJG, EFA, EEM, EWA, EWC, EWY, EWG, EWI, GREK, EWZ, RSX, EPI, FXI
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Comments (3)
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  • untrusting investor
    , contributor
    Comments (9951) | Send Message
     
    Dave,
    What is you take on the VIX and related ETF's that supposedly track VIX (poorly at that).?

     

    Any chance of seeing the VIX stay at these relatively low levels for any extended period of time? Say for the next 1-6 months?
    21 Mar 2012, 02:38 AM Reply Like
  • David Fry
    , contributor
    Comments (451) | Send Message
     
    Author’s reply » If you noted the support line I drew on the VIX chart and now the reaction you'll have all you need to know.

     

    Thanks.
    21 Mar 2012, 06:06 PM Reply Like
  • untrusting investor
    , contributor
    Comments (9951) | Send Message
     
    Dave,
    OK thanks for reply. You have VIX support at about 15. Range today was 14.19-15.31. 52 week low was 13.66 on 03/16/12.

     

    Guess was trying to get your opinion on whether you think it will breakout below 15 support and stay below for awhile, say 1-2 months. Or whether you think it will move back into the 15-20 range (support & resistance on your chart). Or basically how you see VIX playing out over the next 1-6 months even?
    21 Mar 2012, 08:35 PM Reply Like
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