Wednesday, June 25, 2008
Fed Announces Today
Keep in mind that the Fed makes their announcement on interest rates at 2:15 pm ET. It is widely anticipated that the Fed will keep rates unchanged. The market will likely look at the wording of their policy statement for hints of change. Look for volatility to increase just before and after the statement.
Futures are up a few points in the pre-market.
Check back a little later this morning for an update on the indices and watchlist...
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3 comments:
Dave,
Two Questions:
1)Do you think we are seeing price flucations the last several days or a possible trend reversal, esp in the basic materials (commodities) and energy sectors (coal, oil, etc)? Many of the ag stocks and energy stocks have had rather strong pullbacks the last 2 days.
2)Interestingly the Financials, and Homebuilders are up. Some are saying this is short covering that is accounting for the increase in these sectors. Any feedbak would be appreciated. Thanks, Derek
Derek,
It appears that ag stocks are in a bull flag as posted this evening. The are still making higher highs and higher lows.
It is buying, possibly from shorts but how would anyone actually know that on the day it was occuring? In general one should take those source of buying comments as speculative guesses by those making them.
Dave
Thanks, Derek
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