LN’s UCC’s (Useful Chit-Chats) June 10 ’10

June 10, 2010 By longneck Leave a Comment

When our market broke into new highs at 3,367 UNCLE SAM gave the PSEi a present – a 320-pt drop in the DOW, this event triggered our markets to gap down right at the open at 3,293… This area which incidentally is also close to the psychological 3,300 level is currently acting as a key level of resistance.

Our market has not really recovered since. We took a poke at the 3,290 level yesterday to no avail, and quickly got sold down. For the last 4 days, our PSEi has been very sluggish. What Uncle Sam broke, Uncle Sam will fix starting tonight. I am expecting a revisit of the 10,000 level tonight for the DOW. And hopefully, we can test 10,300 level again in the coming days.. Of course up to now, the onus is still for the market to go lower.. This now can only be viewed as a dead cat bounce and nothing else.  Read more... (486 words, 1 image, estimated 1:57 mins reading time)

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DMN May 31

May 31, 2010 By dragon Leave a Comment

PSEi                 3,272.73         UP     20.10
VALUE PHP              2,525,478,770.00

Dow10,136.63-122.36(-1.19%)
S&P 5001,089.41-13.65(-1.24%)
Nasdaq2,257.04-20.64(-0.91%)

At the end of Friday’s trade, Wall street shorters try to square off some trading ahead of the long weekend due to Memorial Day holiday this Monday.  Intraday lows of dow being down over 150 gradually rose until the DJIA was lower by about 20 only.  Apparently, there were also long positions who wanted to square out and sold off at the last few minutes, sending the major indexes lower by 1% each.  That Spain was downgraded a notch by ratings agency Fitch made for a nice story as the apparent culprit for the weakness.

DOW 10k hat is worn by many.  For the bulls, a heavily defended 10k means bullish, while a pierce below seems bearish for some, at least for the short term.  Read more... (365 words, 1 image, estimated 1:28 mins reading time)

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DMN May 7

May 7, 2010 By dragon 3 Comments

PSEi 3,142.06 DOWN 25.77
value php 4,163,861,265.00

Dow 10,520.32 -347.80 (-3.20%)
S&P 500 1,128.15 -37.72 (-3.24%)
Nasdaq 2,319.64 -82.65 (-3.44%)

The Dow was trying to go up in the early part of the day, before skidding and skidding further to triple digit losses. Past noon, they saw thier index plunge almost 1000 points and recover 700 immediately after. Citigroup is investigating a rumor that one of its traders entered a trade that helped fuel selling fears in an already Greecey market.

Many questions were left unanswered even hours after the end of the trading day. Who or what was the culprit? Why did markets spin out of control so rapidly? What needs to be done to prevent this from happening again?  Read more... (364 words, 1 image, estimated 1:27 mins reading time)

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Dow at 10,000 Then and Now

October 15, 2009 By dragon 1 Comment

Dow at 10,000: Then and Now, a graphic article presentation from cnbc.

With the Dow Jones Industrial Average crossing the 10,000 point mark for the first time since 2008, we wanted to take a peek back in time to compare what America was like the very first time the Dow crossed 10,000 mark (March 29th, 1999) to today.

What were some of the most cutting-edge products, who was the highest paid athlete, and what were the hottest topics buzzing around the internet? For these and more comparisons, check out the following pictures!


Popular TV Shows
1999: Friends, Who Wants To Be a Millionaire (Debut)
2009: American Idol


Apple's Cutting-Edge Computer
1999: iBook G3
2009: MacBook Air


Portable Music Players
1999: Sony CD Walkman
2009: Ipod Nano Video  Read more... (466 words, 19 images, estimated 1:52 mins reading time)

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