Dow 13K, Oil 125, and Economic Bright Spots


Its been a while since i posted. A few updates. First off, Walmart is doing great! A stop out of the short from last fall produced a small loss. Google went on a tear and i should have spread the calls to May/June for the continued upside that i did not participate in. And the financials have bounced but are lagging. More rough waters ahead, with Bank of America's call on losses from equity lines mounting as one example. Lets go to the charts!

Looking at the Dow Jones, it looks like there is alot of resistance at the 13K level. The broader market is alot stronger then the major indices in many sectors, and the home builder index seems to have made a major bottom. We have a period of softness ahead, as the indicators are not confirming the recent rally. The idea that capital spending will help offset the failing consumer also seems to be helping the general economy. And what about Crude? We're about near the 133 level we figured we might get to into the summer months. But 200 is coming into 2010. The dollar seems to be making a bottom here, as we become the worlds 2nd carry trade defacto. Reversals may happen, but we should see a continuation of all the above into the late summer/fall.

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