Thursday, April 19, 2007
China Crashes - This Time Record Highs!
Firstly an apology for the lack of posts this week.
Following this month's losing play I just didn't have the heart!!
Anyway back to business.
The Dow squeezed out another record close today, but the broader markets did see mild declines. The Dow added 4.79 points to close at 12,808.63. The SPX fell 1.77 points to 1,470.73. Our put side of the play which is still on will expire worthless in the green.
News overnight from China that the country’s GDP soared 11.1 percent in the first quarter led to selling this morning. Because growth is so high in the country, a rise in interest rates is expected, which could slow down global economic growth.
U.S. data on the economy was a bit on the disappointing side with jobless claims coming at 339,000. This is well above estimates for 320K for the week. This is also the week used for the survey for monthly payroll data, so expectations for nonfarm payrolls have fallen.
However disappointing economic news was offset by good earnings again and this balanced out the markets.
These markets are definitely on an uptrend.
Until next time.
Following this month's losing play I just didn't have the heart!!
Anyway back to business.
The Dow squeezed out another record close today, but the broader markets did see mild declines. The Dow added 4.79 points to close at 12,808.63. The SPX fell 1.77 points to 1,470.73. Our put side of the play which is still on will expire worthless in the green.
News overnight from China that the country’s GDP soared 11.1 percent in the first quarter led to selling this morning. Because growth is so high in the country, a rise in interest rates is expected, which could slow down global economic growth.
U.S. data on the economy was a bit on the disappointing side with jobless claims coming at 339,000. This is well above estimates for 320K for the week. This is also the week used for the survey for monthly payroll data, so expectations for nonfarm payrolls have fallen.
However disappointing economic news was offset by good earnings again and this balanced out the markets.
These markets are definitely on an uptrend.
Until next time.
# posted by Paul @ 5:55 PM 
