Monday, November 27, 2006
Falling Dollar - Falling Market
Traders returned from there holidays in a bearish mood. The Dow fell 158.46 points to close at 12,121.71. The SPX fell 19.05 points to 1,381.90. Our position is still in green but it could be looking better.
There are some reasons being blamed for Monday’s weakness, including a falling dollar and Wal-Mart’s disappointing same store sales data. However, most analysts agree that these were just excuses for traders to take profits after nearly unabated gains since mid-July. Nonetheless, whatever the reason, the major market indices did take a hit Monday and we need to be aware of this.
As I always say markets come down a lot quicker than they go up and our short put is in focus. I will keep an eye on this over the next few days.
Until next time.
There are some reasons being blamed for Monday’s weakness, including a falling dollar and Wal-Mart’s disappointing same store sales data. However, most analysts agree that these were just excuses for traders to take profits after nearly unabated gains since mid-July. Nonetheless, whatever the reason, the major market indices did take a hit Monday and we need to be aware of this.
As I always say markets come down a lot quicker than they go up and our short put is in focus. I will keep an eye on this over the next few days.
Until next time.
# posted by Paul @ 7:48 PM 
