As of 11:30 p.m., the electronic index futures were predicting the Dow would open about 80 points lower on Wednesday. The selling would become serious, however, if the Mini-Dow, currently trading for 7478, were to fall below 7351.
COMMENTARY for Wednesday
TODAY'S ACTION for Wednesday
Rick's Picks for Wednesday
Only the little stuff looks tradable at the moment (i.e., 1o:30 p.m. EDT). Nor are we inclined to hazard a prediction about Wednesday's action, although, to judge from the glum note on which stocks finished yesterday, the burden of proof will fall on bulls when stocks ...
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A midpoint support at 907.60 that comes from the daily chart (A=1009.80) should be used as a minimum downside target for now, but if it's decisively breached expect the downtrend to continue to at least ...
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The breach of a midpoint support at 43.94 implies TBT is about to fall to at least _____, the support's 'D' sibling. Let's be ready to bottom-fish there with a bid for two June 43 calls...
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Let's try to leverage the Comex Gold target by using an analogous support in this vehicle at...
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This Just In... for Wednesday
In the article linked below, Mises Institute’s Frank Shostak has exposed the toxic asset cleanup for the brazen fraud that it is. Either out of Krugman-like ignorance, or cynicism, or a combination of both, the plan’s authors have failed to distinguish between savings and credit as the source of new lending. Once again, Shostak has pointed out to his benighted colleagues that the Emperor is wearing no clothes.
Link: Would Cleansing Banks’ Balance Sheets Kick-start the US Economy?
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Falling Home Prices Mock Inflationists
by Rick Ackerman on April 1, 2009 2:12 am GMT · 18 comments
Inflationists and their crackpot theories took another pounding yesterday on news that home prices had plummeted at a record pace –19 percent since last January. Residential real estate values have now fallen by 30 percent nationwide since peaking in 2006. In » Read the full article