Wednesday Outlook: Commodities, Global Markets

by: David Fry

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Intel (NASDAQ:INTC) reported after hours earnings that were low but beat expectation. They sold the stock down 4% after that news so that may be the mood going forward.

Bloomberg’s Caroline Baum wrote a week or two ago that politicians should wear T-shirts with logos of those organizations that own or sponsor them. I thought about this when watching TV interviews from the Masters Golf Tournament. Players have a cap with their sponsor's logo prominently displayed. I don’t think any of these guys are allowed to make public appearances without these accoutrements. Politicians should be in the same position — even the president. Imagine a press conference where the president dons a GS cap. Get the visual?

There’s not much difference between this administration and the last. Previously Paulson, the former chairman of GS, bailed out his old firm using Geithner as his tool. What’s really changed? Geithner gives more dough to GS and they trade the snot out of it, make money and then return it sans interest or a piece of the action. The entire process is disgusting.

The post today is abbreviated since I’m absorbed with other matters.

Let’s see what happens.

Disclaimer: Among other issues the ETF Digest maintains positions in: SPY, MDY, IWM, QQQQ, XLB, XLF, XLI, XLY, IYR, DBC, DBA, DBB, DBC, USL, MOO, EFA, EEM, IF, EWZ, and FXI.

The charts and comments are only the author’s view of market activity and aren’t recommendations to buy or sell any security. Market sectors and related ETFs are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period. Chart annotations aren’t predictive of any future market action rather they only demonstrate the author’s opinion as to a range of possibilities going forward.