This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Politicians Play Blame Game: Dave's Daily

Stocks in this article: CSCOIGNCKBEXOMXLEUSL



Since the first OPEC oil embargo nearly four decades ago politicians have successfully diverted attention from their own lack of developing coherent and effective energy policies. It's no different today.

U.S. Senator Ron Wyden woke up this morning, read some polls, and then wrote a letter to the CFTC demanding a clampdown on speculators blaming them for high energy prices.

This behavior continues the irresponsible political diversion allowing politicians to not exercise real leadership. It results in little additional energy and illusionary scapegoats.  

Another commodity beat down day on Wednesday inspired by more CME crude oil margin hikes. (And, the CME just raised crude oil margins by 21% and "crack spreads" by 50%!) Meanwhile stocks fell presumably led by a disappointing earnings report from Disney (DIS).

Previously, stocks liked higher commodity prices, a weak dollar (reversing sharply Wednesday) and QE2. As to the latter, POMO is going to be much reduced going forward and may not, according to today's Fed schedule, meet their stated goal. This will sadden bulls as trading ammo will be lost.

The lead headline at Yahoo Finance stated stocks "paused" Wednesday from the previous three-day rally. This was a curious term choice since markets were hard hit by selling.

Tonight's results from Cisco (CSCO) were a mixed bag. Of greater importance are Jobless Claims data which should confirm last week's poor report or validate Friday's NFP report.

Volume picked-up substantially from previous bullish days as again stops were hit. Breadth per the WSJ was quite negative.

 

 You can follow our pithy comments on twitter and join the conversation with me on facebook.

 

Continue to U.S. Sector, Stocks & Bond ETFs

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To 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.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs