Thursday, August 20, 2009

Hurricanes cause increase in equities prices

Unless you are actively daytrading, I don't find much interest in trying to trade during expiry week. Work demands make it impossible to daytrade this week and next. I may post the occasional big picture /ES chart and hopefully chime in on the weekend.

We are back to where we started Monday....a good whipsaw givng hope to bears and bulls to chunk down their capital.

The fear of hurricanes drives ships away, and inventory reports on oil cause oil to skyrocket based upon "big demand" which is a fallacy perpetuated by financial entertainment television and industry professionals who do know better. This in turn drives equities up as part of Pretchers "all one market" theme.

Therefore, hurricanes cause increases in equity prices. This market is fractured.

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Insightful and Useful Comment!