Monday, November 12, 2007
...and down some more!!
I need to be brief today. The week finished with another big decline for the markets. The Dow closed the session with a loss of 223.55 points to 13,042.74. The SPX gave up 21.07 points to finish at 1,453.70. Our play is deep in the green and with only four trading days to go we are looking forward to a very comfortable week!!
In economic news, the University of Michigan reported that its mid-month report on consumer sentiment fell sharply. The index fell to 75.0 in November from 80.9 in October. The expectations index saw a sharp decline as well while inflation expectations rose. This is not good news for the economy, especially with high energy prices and continued problems in the housing sector.
Lots of news this week, the main stuff being retail and inflation data. If this is not good I think next stop this week is 1400!
Until next time.
In economic news, the University of Michigan reported that its mid-month report on consumer sentiment fell sharply. The index fell to 75.0 in November from 80.9 in October. The expectations index saw a sharp decline as well while inflation expectations rose. This is not good news for the economy, especially with high energy prices and continued problems in the housing sector.
Lots of news this week, the main stuff being retail and inflation data. If this is not good I think next stop this week is 1400!
Until next time.
# posted by Paul @ 6:57 AM 
