Market Close
Well I did say "unless there is a substantial event that frightens the traders and sends them running for the exits once again". The ISM data this morning was that event and it was a bomb shell. Worst readings in close to 30 years. With the market already at a resistance level that I identified last Thursday combined with today’s economic data it just sent the bulls running for the exits essentially wiping out all of last weeks gains.
Full wrap up later tonight…
More on this topic
(What's this?)
Market Rallies Despite Disappointing ISM
(Daily US Stock Market Fundamenta..., 3/2/10)
THOUGHTS ON TODAY’S DATA
(THE PRAGMATIC CAPITALIST, 2/3/10)
RAIL TRAFFIC HITS 2010 HIGH
(THE PRAGMATIC CAPITALIST, 3/5/10)
WHERE’S THE FULL WRAP UP “LATER TONIGHT”? I’M NOT GIVING YOU A HARD TIME AND I REALIZE YOU DO WHAT YOU DO FOR FREE AND I APPRECIATE YOUR EFFORTS AND INSIGHT….BUT WHY SAY SOMETHING AND NOT COME THROUGH?
Lots more economic data coming this week. We’ve seen a significant economic slowdown, so I expect more weakness and perhaps a retest of the intraday lows of 741 soon.
robert.
What is your problem? Chuck has done more in the past year to guide us than any other person I know, even paid services.
Have you ever read his profile? Have you ever considered that maybe he has a life outside of the market and can’t spend 24 hours per day in the office? i find your comment repulsive.
Robert, give it a rest. We do not pay for Chuck’s services. This isn’t one of those sites that nickel and dime you to death. Heck how do you know that he didn’t have an emergency? Relax.
Good morning all…
Robert- last evening I had to go to the fire department. After my return home I fell asleep sitting in the chair. The mind was willing but the body was just too exhausted. I try as best I can to be punctual, however you have to realize that I volunteer my time for my community in times of need. If I could make days longer than 24 hours I would. But since I can’t do that (I tried
)sometimes sleep takes priority. I can only go so long operating on 3 hours of sleep every night before it catches up.
And by the way.. no need to shout (all caps).