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Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
Today's Open: Flat
Major Averages Make No Progress After Early Gains Fade
PICTURED BELOW: The S&P 500 Index negatively reversed and closed a fraction of a point below its 200-day moving average (DMA) line. Earlier gains on Monday faded as the major averages turned tail in the afternoon. Volume totals was lighter than Friday's heavy levels, but that simply reinforced the notion that institutional investors are not eagerly buying shares. Decliners had a slight edge on advancers on the NYSE and decliners also led advancers by a 17-to-14 ratio on the Nasdaq exchange. The number of new 52-week lows easily topped new 52-week highs on both exchanges.
"Stock futures digest Wal-Mart and UBS warnings. PPI data likely to show wholesale-level inflation picking up modestly. Trade-gap data also on deck."
Equity markets around the world tried to rally on Monday after the World's Central Banks stepped up and infused billions of extra dollars to help create liquidity to ease the recent fallout in the credit and subprime markets. Last week, central banks in the US, Europe, Japan, Australia, and Canada added about +$136 billion to the banking system. This helped allay concerns that the recent turmoil in credit and subprime related markets will spill over into other parts of the economy. However, there was a lack of sufficient buying demand to allow the market averages to rally, and in the final minutes of the session the major US averages dipped into negative territory. Remember that one of the hallmark characteristics of a weak stock market is a strong opening fading to a weaker finish - exactly what occurred on Monday.
The Broker/Dealer Index ($XBD -1.57%) closed Monday's session at its second worst low of the year.
From 24/7 WallSt.:
Europe Markets 8/14/2007
Media Digest 8/14/2007 Reuters, WSJ, NYTimes, FT, Barron's
Asia Markets 8/14/2007 Shanghai Makes New Record
7 Stocks You Need to Know for Tuesday
Tuesday's list includes: Home Depot, Wal-Mart and Agilent.
Upgrades / Downgrades / Initiations from MarketWatch
Wall Street Breakfast in Seeking Alpha by SA Editors on August 14th
What you need to know in early trading today.
No One Has Learned Anything By Gary Kaltbaum
S&P FIVE-STAR RATED STOCKS ( ***** Strong Buys) & 5-Star Rated Stocks from Morningstar and Schwab
- Are Financials Suddenly Cheap? Part Ii
- Are Financials Suddenly Cheap?
- Top 10 Sectors & Stocks By Relative Strength (weekly Update)
- Short-Term Sell Signals Given
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NOTE: Please click on the charts below to enlarge them if [read more]
NOTE: Please click on the charts below to enlarge them i [read more]
U.S. stock futures rebound on Citigroup results"S&a [read more]
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