- Today may turn out to a healthy decline. Market struggled most of day and swooned with President-Elect confirmed what most of us know: the economy stinks. But the President said it.
- Notwithstanding the Obaminator’s comments (as one of my sons fondly calls him) the market closed off its lows—healthy.
- Tomorrow is Turnaround Tuesday and if we get a calm over-night trade we could resume the rally.
- Could commodities be making a turnaround? Gold and silver were down today, reflecting the dollar movement, but oil, oil services, nat gas, metals and two commodity funds, DBA and DBC had 1%++ moves.
- Especially interesting was Companhia Vale de Rio Doce (RIO). It advanced almost 7% on huge volume. But so did almost all Brazilian ADRs. EWZ, the Brazillian ETF reflected all this with a move of 3.75%. After trading at its high of $102 it fell to $27 and now is $38. The volume on EWZ was more than 2x daily average. In addition, the Latin American Index advanced more than 5% today. Think I’ll look a little closer.
- Looking for a convenient page for all your favorites? My brother-in-law sent this to me; be sure to click on all the drop downs at the top…..it goes on and on……:www.allmyfaves.com
Have a wonderful evening. Go ahead!
