Tuesday, March 24, 2009

Market Pauses Tuesday

  • The market gave back a little today, with the selloff accelerating into the close. We can cut the market some slack for a pullback after yesterday's move.  But I get the feeling we better keep close watch on it.  A little head fake over the 50dma like in January?
  • I'm staying long here.  But I may have to re-evaluate that if this rally fails.  Nothing for me to do yet.  Watching the 50dma.  Watching volume and price action.  Watching the Black Box, which has been doing decent lately.
  • How does Steve Wozniak survive elimination on Dancing with the Stars?
  • President Obama pre-empts Dancing with the Stars.  Again.  Zogby has his approval ratings at 50-50 now.  Don't mess with Idol, Barack.
  • What did I like about Obama's speech?  I don't know. Seems like more of the same to me.  He's been on TV a lot lately - like Leave it to Beaver reruns.
  • Obama's statement on energy seems ridiculous.  Like wind farms and solar panels are going to make a huge difference.  Meanwhile, oil prices climb.  I think OPEC is looking at the stimulus spending, and wants their fair share when you go to fill 'er up at the pump.
  • China calls for a new global currencyThe world economic crisis shows the "inherent vulnerabilities and systemic risks in the existing international monetary system," Gov. Zhou Xiaochuan said in an essay released Monday by the bank. He recommended creating a currency made up a basket of global currencies and controlled by the International Monetary Fund and said it would help "to achieve the objective of safeguarding global economic and financial stability."