Dow 2006

I went in at 11260 at the level I mentioned earlier, it turned out to be the exact low of the day. Although no big boy action occurred, just general support off basic retracement levels in line with a market that is still going north.
 
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tricks said:
I'll re-focus on trading FOREX. I wonder how much that is manipulated though by Governments.

U.S. lawmakers argue the Chinese yuan is kept artificially weak to give exporters an advantage, contributing to a $201.6 billion trade deficit with China last year. Some U.S. senators have called on Treasury Secretary John Snow to label China a currency manipulator, which would make it easier to put penalties on imports from the country.

http://www.bloomberg.com/apps/news?pid=10000087&sid=awQU4tY9aqg0&refer=top_world_news
 
RTTNews) - U.S. President George Bush said Tuesday that the country will temporarily suspend deposits to the Strategic Petroleum Reserve. In a speech about U.S. energy policy, the President reported that he had instructed the U.S. Energy Secretary to suspend deposits to the SPR until the fall.

Bush also called for an investigation of possible gauging in gasoline prices. To help relieve skyrocketing gasoline prices - which have risen above $3 per gallon in many parts of the country and have topped $4 per gallon in certain areas - Bush said the Environmental Protection Agency would temporarily waive local fuel requirements.

Speaking of longer-term solutions to the country's energy problems, the president repeated his belief that the Arctic National Wildlife Refuge should be opened to oil drilling. He also repeated his call for an expansion of domestic refining capacity.

Oil prices have risen steadily over the past several weeks, with light, sweet crude reaching an all-time high above $75 per barrel last week.
 
Oil will possibly rise to 3 figure sums on delivery and as long as it remains in contango...
...this is what I hear in the press so be warned.
 
"as long as it remains in contango..." ???

Oil just above $73 this morning
Gold at $634
Small 85pt rise in the Nikkei
Boeing, Citigroup, Caterpillar, GE, GM, JNJ, Merck, MSFT, Pfizer, PG & Walmart are all up pre-market.
 
kriesau said:
Anyone know what time Bernanke is making his speech to Congress today ?

Morning all

He speaks at 10.00 am est US.

Futures are down this am ahead of that speech. Is he going to make nice nice? :LOL: or is he going to be hawkish? :devilish:
 
Jerry Olson said:
Morning all

He speaks at 10.00 am est US.

Futures are down this am ahead of that speech. Is he going to make nice nice? :LOL: or is he going to be hawkish? :devilish:

Seems China is to blame for the drop in futures....
:rolleyes:
 
Jerry Olson said:
Morning all

He speaks at 10.00 am est US.

Futures are down this am ahead of that speech. Is he going to make nice nice? :LOL: or is he going to be hawkish? :devilish:

Are you still bullish Jerry? Do you still think it can break out to the upside. Bernanke may do the tricks.
 
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