MARKET COMMENT July 1, 2008 Was a positive ISM report the spark bulls needed to seize the tape and put a short-squeeze on?
Source: http://etfdigest.com/daveDaily.php?id=620Posted on Tuesday, July 1st, 2008 | In Current Market News, Exchange Traded Funds
Was a positive ISM report the spark bulls needed to seize the tape and put a short-squeeze on? It wouldn’t take much with markets much oversold. But, higher prices paid are hurting manufacturers in this inflationary environment and passing these costs to customers is becoming increasingly difficult. Meanwhile inventories are growing and new orders are slowing. This is a pretty thin reed for a rally.
Inside the numbers the troubles plaguing investors and the economy are still omnipresent with commodity prices rising, transports tumbling and emerging markets faltering.
Volume was very heavy but breadth wasn’t impressive. [With columns, please eyeball the math. Poor Yahoo just can’t do it. We’ve had good suggestions and many folks and agents “trying” to contact them to fix it. Do they care??? The answer seems, obviously not.]
Last 5 posts by David Fry
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bulls, Current Market News, Exchange Traded Funds, Inflationary Environment, Inventories, Ism, July 1, Short Squeeze
 About David Fry (http://etfdigest.com)
Dave Fry has devoted over 35 years to the business of trading and portfolio management. His registration as an arbitrator with both the National Association of Securities Dealers (NASD) and the National Futures Association (NFA) attests to his extensive experience and spotless compliance record. 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 advice on ETF investing. Dave is a frequent commentator on ETFs and other issues important to individual investors, and his perspectives are featured in financial news sources such as the Wall Street Journal, MarketWatch, Investor’s Business Daily, Smart Money, Dow Jones Newswire, National Business Review, MSN Money, Yahoo! Finance, Bankrate.com, Emerging Markets Monitor, IndexUniverse.com, and ETF Investor. |
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