Monday, June 18, 2007
Pay Day!
Friday saw our June Play finish in profit. All my cash this month is being reinvested back into my trading account.
Since I last posted the SPX has seen some fairly spectacular rises as all of a sudden traders are not worried about inflation! The SPX finished up on 9.94 points to 1,532.91.
The consumer price index eased inflation worries although the headline figure rose 0.7 percent. The core rate, which excludes the often volatile food and energy components, rose just 0.1 percent. This puts the year on year rate at 2.2 percent, down from 2.9 percent in April.
In other economic news, consumer sentiment fell sharply to start the month of June as measured by the University of Michigan. This is a result of higher gasoline prices and the Fed won’t be pleased with a 2-tenths gain in inflation expectations to 3.5 percent. The Empire State Mfg. Survey rose sharply to 25.8 in June, well above estimates for a reading of 12.5 and May’s figure at 8.0. This supports other manufacturing reports that show the sector improving.
Finally bond yields continued to drop Friday, allowing stocks to move higher. However, oil prices moved above $68 a barrel and this is something that could garner attention next week during a quiet week for data.
Can this move keep on going up? I think not. But what do I know.
Until next time.
Since I last posted the SPX has seen some fairly spectacular rises as all of a sudden traders are not worried about inflation! The SPX finished up on 9.94 points to 1,532.91.
The consumer price index eased inflation worries although the headline figure rose 0.7 percent. The core rate, which excludes the often volatile food and energy components, rose just 0.1 percent. This puts the year on year rate at 2.2 percent, down from 2.9 percent in April.
In other economic news, consumer sentiment fell sharply to start the month of June as measured by the University of Michigan. This is a result of higher gasoline prices and the Fed won’t be pleased with a 2-tenths gain in inflation expectations to 3.5 percent. The Empire State Mfg. Survey rose sharply to 25.8 in June, well above estimates for a reading of 12.5 and May’s figure at 8.0. This supports other manufacturing reports that show the sector improving.
Finally bond yields continued to drop Friday, allowing stocks to move higher. However, oil prices moved above $68 a barrel and this is something that could garner attention next week during a quiet week for data.
Can this move keep on going up? I think not. But what do I know.
Until next time.
# posted by Paul @ 5:59 AM 
