MARKET COMMENT
May 1, 2007
I wouldn’t say, at least when viewing the NASDAQ, that 6
points higher today offsets yesterday’s 32 points down.
But, hey, a bounce is a bounce.
The DJIA average was much higher thanks to the
attraction of big names and more than undid yesterday’s decline.
But inside the numbers things weren’t that
rosy.
Volume was heavy today but advances and declines were only
impressive on the DJIA whereas other indexes were either flat or negative.
Meanwhile overseas markets continue to do their thing but
are becoming noticeably more erratic.
We still have more earnings to dribbling-out this for the
duration of the week and then that will just about do it.
More economic data will push markets one way
or another as usual.
The big number will
be first with energy inventories tomorrow and then the all important employment
data on Friday.
It should all be
interesting as usual.
Have a pleasant evening.
Disclaimer:
Among
other issues, the ETF Digest maintains long or short positions in: SPY, MDY,
IWM, QQQQ, PSI, RCD, RYF, GLD, DBC, DBB, EFA, EEM, EPP, ILF, EWO, EWA, EWC,
INP, EWG, FXI and ISL.