MARKET COMMENT
May 2, 2007
BIG WEDNESDAY at Pounders Beach, Laie,
Hawaii [Oahu]
[Photo courtesy of family friend Chris Spezzano]
A now and again signature of bull markets are weaker Monday’s
and Friday’s with stronger mid-week averages.
Today was more powerful than yesterday’s bounce and the NASDAQ recouped
most of the losses it incurred on Monday.
It was Big Wednesday man!
[Oh, and by way, I used to body surf this beach when it was “right”
many years ago.
Today, I’d break every
bone in my body!]
So, what was the good news today?
Damned if I know!
Oh, well there was more buy-out activity and
folks threw aside the crummy employment number to focus on better factory
orders.
Always look on the bright side
please.
Elsewhere, crude oil dropped again today as supply data hurt
prices.
Let’s go overseas, and this is the cheapest way to go I’m
aware of…
Enough from Big Wave Dave!
Ah, to be young again and back on the beaches of Hawaii letting my skin cancer slowly develop.
Sun screen in those days?
Are you kidding!?!
So the bulls had a good day and I guess all things
considered so did we.
The markets may
tense-up before Friday’s employment number.
But then that’s punditry and I’m supposed to leave that to others.
Have a pleasant evening.
Disclaimer:
Among
other issues, the ETF Digest maintains long or short positions in:
QQQQ, FDN, PSI, PBE, GLD, DBC, SPY, MDY, IWM,
EFA, EWG, EWN, EEM, ILF, EWZ, EWC, INP, FXI, EWY, EWA, EWJ, and ISL.