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Daily Report for Saturday, Jul 4, 2009

July 4, 2009 by Bill Cara

[9:40am ET] Closed for the US Independence Day holiday, capital markets elsewhere were open on Friday. As you might expect, however, not much happened.

The Toronto Composite (10,283.1 +0.36%) gained a tad, while the Venture Board (1,092.96 +0.03%) was flat.

In Europe, the French CAC (3,119.5 +0.10%), German DAX (4,708.2 -0.22%), and UK FTSE 100 (4,236.3 +0.05%) were quiet.

Daily Report for Friday, Jul 3, 2009

July 3, 2009 by Bill Cara

[8:29am ET] Thursday’s Employment Report was a downer for US equities. Too many people had been hooked into the belief that the unemployment situation in the US, and Europe as well, was on the mend. The data shows otherwise.

http://finance.yahoo.com/news/467K-jobs-cut-in-June-jobless-apf-74984323...

Daily Report for Thursday, Jul 2, 2009

July 2, 2009 by Bill Cara

[9:42am ET] Wednesday was another day like Monday where the Bulls got off to a quick start and then tired during the run, but still managed to close ahead. Today, the final one in the US market, ahead of Independence Day, is going to be focused on the earlier reported National Employment Report.
http://finance.yahoo.com/news/467K-jobs-cut-in-June-jobless-apf-74984323...

Cara's Commentary & Community Chat, Thursday, Jul 2, 2009

July 2, 2009 by Bill Cara

[8:05am ET] While you would not know it from this morning’s trading (i.e., Dollar up and gold down a bit), technical analysts like Colin Twiggs are watching for a possible $USD break-down. I agree with the analysis and with the pivot points he gives in his regular reports. I have been anticipating a test of 79 on the $USD (which Twiggs accurately opines is really 78.50) and $1,000 for $GOLD.

Daily Report for Wednesday, Jul 1, 2009

July 1, 2009 by Bill Cara

[8:40am ET] Tuesday was the mirror image of Monday. Monday popped higher at the open and then sidetracked all day, while yesterday plunged at the open and then sidetracked all day. Unless you can see the order flow, or know in advance the tone of the economic data to be published, it makes for a challenging trading day.

At the close Tuesday, the S&P 500 (919.32 -7.91 -0.85%), the DJIA (8,447.00 -82.38 -0.97%), and the NASDAQ (1,835.04 -9.02 -0.49%) were all weaker.

Cara's Commentary & Community Chat, Wednesday, Jul 1, 2009

July 1, 2009 by Bill Cara

[7:35am ET] Appropriately on Canada Day today, I noted an article in the National Post by the country’s leading business and finance writer Diane Francis.

This story on Bernard Madoff is conjecture perhaps, but is the most likely true version of events that has been reported to date. The bottom line is that Madoff was a money launderer and there was no investment fund or investment holdings per se – just ten percent plus $x in and ten percent out as a return of capital if you will, where the x factor was Madoff’s fees for fronting the scam.

Daily Report for Tuesday, Jun 30, 2009

June 30, 2009 by Bill Cara

[7:14am ET] And we thought Friday was boring! If you left the room Monday for 30 minutes early in the session, you could be excused for thinking traders were taking an all-day siesta. Forex and bond prices barely budged, and volume in the equity market was pathetic.

Prices of equities did advance however. At the close, the S&P 500 (927.23 +8.33 +0.91%), the DJIA (8,529.38 +90.99 +1.08%), and the NASDAQ (1,844.06 +5.84 +0.32%) were all firmer thanks to the early session boost.

Cara's Commentary & Community Chat, Tuesday, Jun 30, 2009

June 30, 2009 by Bill Cara

[5:40am ET] Aussie-based technical analyst Colin Twiggs believes that gold at 940 is at a break-out point, either up or down. As you know, I agree; moreover I have opined that the price of gold will any day make a spurt to $1,000/oz, and so I have closed the bullish put writes in the gold and silver miners and switched to an even more bullish program of buying calls. Today could be the break-out day. Of course, central banks are loathe to permit that break-out. It’s in their interest to see gold and silver prices stay at these levels while they engineer their quantitative easing program.

Cara's Commentary & Community Chat, Monday, Jun 29, 2009

June 29, 2009 by Bill Cara

[9:30am ET] I woke up this morning with a moderate pain running down my right arm from the back of my neck to my wrist. Thinking carpal tunnel syndrome, I checked up on wiki, but discovered that, despite my right hand being married to a mouse, the event was more likely of a psychosocial nature:

Week in Review #26, 2009

June 27, 2009 by Bill Cara

[11:40am ET] This week's report on Personal Income & Outlays, according to Econoday, “indicates that fiscal stimulus is bolstering the consumer sector somewhat-but not as much as hoped for as consumer spending is lagging the income gain significantly. But the unspent income will help support spending in coming months. Equities should like the numbers while bond yields rose on the news. But equities could head in any direction with the restructuring of the Russell 2000 and the end of the quarter looming.”

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