|
PureBytes Links
Trading Reference Links
|
While the 1065+- area has held support, I find it noteworthy that equities
have barely gotten a bid for the entire decline. Failure to get a strong bid at
current support suggests to me that the decline is probably not over.
The biggest anomaly in Friday's action was fact that trade deficit
soared yet bond yields declined. The underlying trends in the deficit suggested
smaller currency inflows to US. Overall, it would seem that increased credit
demand to finance the trade deficit and decreased inflows would lead to higher
bond yields.
Oil is oil and I think few (especially not on CNBC) know where oil is
going. For now it is in an up-trend, OPEC candidly admitted (then retracted)
that they had little/no excess capacity remaining and the global economies,
especially Asia, have yet to show significant signs of slowing which suggests
continued high demand. Of particular interest is the fact that the Oil/Gas ratio
has gotten so far away from it's usual 6:1 range.
Earl
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
Bob
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders
Sent: Saturday, August 14, 2004 5:06
AM
Subject: [RT] Oil
Was anyone else surprised at how the indexes
held up this week in the face of Oil continuing its relentless rise and
some not so inspiring earnings reports? Maybe it's just a
pause before the indexes head lower but I thought it was rather odd.
I also heard a trader on CNBC state that he
believes oil is within a week or so of a top, and the reason he cited was the
current relationship/spread between the front month and outlying months.
This is beyond my area of expertise so I was hoping some others would share
their
views.
Yahoo! Groups Sponsor
ADVERTISEMENT
Yahoo! Groups Links
To visit your group on the web, go to:http://groups.yahoo.com/group/realtraders/
To unsubscribe from this group, send an email to:realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
|