Thursday, November 02, 2006
Down We Go
Economic news yesterday finally took its toll on the markets and gave traders an excuse to take their profits. The IYSWIM Index fell in October to a level of from in September. This points to a continue slowing in the economy and this accompanied by a fading housing market has some traders worried about a hard landing for the economy. However, within the data, the prices paid index fell to 47 percent from 61 percent on lower energy prices.
After two days of no movement the SPEC gave up points to 1, on the news. We are still in green. Big news is on Friday with the employment report. It would be nice to see job numbers in line with expectations.
Our greatest threat to this position is now moves to the downside.
Until next time.
After two days of no movement the SPEC gave up points to 1, on the news. We are still in green. Big news is on Friday with the employment report. It would be nice to see job numbers in line with expectations.
Our greatest threat to this position is now moves to the downside.
Until next time.
# posted by Paul @ 5:14 AM 
