Wednesday, June 10, 2009

Stock Market Update - June 10, 2009

Money flow is peaking for this run on the Dow ... not to say it may have some more room. Speaking money flow it was flat today for the DJ US Total Market and today was a 57% down volume day. All was quite for the markets with one exception in my opinion ... a few banks were allowed to pay back close to $70 billion in TARP money ... I believe this should have been a big day for the market overall and the Financial sector ... but instead we closed down. I know what you are going to say that it was already factored in ... but please ... on news like this ... we should have closed up.
One positive for the market ... high yielding debt still moved up today ... this is actually a great indicator for businesses in my opinion. An indicator to point out the true direction of businesses and companies with large debt obligations willingness to make good. In the longer run this is healthy for the market if this keeps moving up.

This is probably the ultimate culprit that moved the Dow lower ... the Dollar was up.

No comments:

Post a Comment