Dave's Daily
By Dave Fry, founder and publisher of ETF Digest and author of the best-selling book Create Your Own ETF Hedge Fund. March 10, 2010
BULLS KEEP MARKETS CLIMBING
It's clear which way trading desks want to take the tape--higher. Bullish news was hard to find Wednesday other than biotech and a lot of positive chatter with financials. Thursday and Friday's "real news" on Jobless Claims followed by Retail Sales and Michigan Consumer Sentiment will be featured. These should have an impact.
There seems to have been a bear raid on gold today. You can search far and wide for an explanation for selling but find only feeble attempts to rationalize the move. Some said it was an SEC Commissioner suggesting gold was in a bubble (as if that's any of their business) or others stating China wasn't keen on the metal. The dollar did little to account for heavy selling. So to me, it's an engineered event by those that can, unless other facts prove me wrong.
Volume remains on the light side even with a pick-up today. Breadth was positive once again per the WSJ.
Continue to Major U.S. Markets TheStreet Premium Services For Personal Service: 877-471-2967
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
ETF Profits:
Get money-making ideas from the hottest investment vehicle on the planet. Our experts show you how to play various ETF sectors to help pump-up your portfolio. Learn More
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 12,772.96 | 1,339.79 | 2,905.90 | 19.86 |
Oil *
117.12
|
|
DOWN
117.50 |
DOWN
12.16 |
DOWN
21.33 |
DOWN
0.61 |
10 Yr
1.99%
SPDR Gold
166.92
|
|
-0.91%
|
-0.90%
|
-0.73%
|
-2.98%
|
Data delayed 20 minutes |
Connect with TheStreet