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Thursday, January 22, 2009

What a weird trading environment

Why Weird? Well APPLE surprises and is up huge, but MSFT disappoints. IBM is on a roll and that with other news lifted the whole market yesterday , imo, way too much.
Then RIMM was up on the Apple news and now its down.
Oil which is up huge now is down a bit but USO is down almost 5% at the open.
GLD is good as GOLD is not going down much. The dollar and GOLD were inversely proportional but that seems to be changing now at least on small US$ moves.
We are back to the DOWN UP DOWN trading environment where the markets seem to have no memory . There is follow through.
Well lets see how today goes, I think there is a bit of an upward bias but the bulls throw caution to the wind too often and instead of a slow steady climb upwards we get some huge days followed by down days.
Will keep you posted.

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