Hither, thither, whither, hence, thence, whence, - all are useful words now neglected as the literacy level of the US continues its decline from TV and video game induced zombie-ism.
Not here !
Whither combines the concept of "where" with the motion of going. Thus, "whither will stock prices trade now ?"
Tuesday was Day 1 of a rally attempt. IBD seems to have missed that, as they cited low volume, but a higher volume day is not required for a "Day 1". They missed the beginning of a great rally last summer for a few weeks, too. So now a confirmation 1% rise in a major index with higher volume day on Day 4 or later is needed. Friday is options expiration day and will be Day 4. Let's watch.
The PPI and CPI data will be important. Low numbers in the "comfort zone" will help give the Fed room to cut if needed.
PS: PPI number was fine - the month over month core was zero.
PPS: GE guides 2007 revenues up.
P^3S: Good retail sales numbers - uh ... I guess the consumer is normal.
P^4S: I am very pleased that Bernanke in his speech is really emphasizing the importance of the Fed's DUAL mandate: maximize employment and price stability. Too many eisegetes ignore the former requirement.
P^5S: I just bought a new top line iMac. Doing my bit to support the economy :-)
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1 comment:
I'd be shocked if the beefer bears don't hit this move hard this morning. Caution warranted. Buy dips only.
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