the art of randomness l'art de l'aspect aléatoire

Jul 2, 2008

huge reversal on spx !

just look at the tremendous volume on the S&P 500, its volume is almost as huge as the drop from bear stearns!

US markets opened on 1st july gapping down after europe closed with an almost 3% drop and suddenly started to rally. Funds are buying for window dressing. however whether this rise will continue is not confirmed yet.. the market needs close above the SPX 1298 level for a continued rally.

Gold rallied again today finishing the session higher by 16.20 to 944.50. Gold has resistance at 950.00. The support levels for gold are 900.00, and 880.00. Continue to watch the U.S. Dollar as gold and the dollar generally trade inverse to each other.

the big one should come.. latest by next tuesday..

Bought

SingTel DBeCW080908 $0.065

Sold on 7/7/08 at $0.045 (-30.77%)

Posted at 09:58 pm by kohsijie

	Posted by si jie @ 07/08/2008 10:01 PM PDT
	yo verdy, thnx for dropping a comment! yes the increase in oil is definately a worry in the markets. For this rally to be in place 3 things need to happen. 1.) oil falls back 2.) financials recover 3.) USD appreciates and no big geopolitical events happen

	Posted by Verdy @ 07/05/2008 11:10 PM PDT
	Hi sejie, I think the culprit for such huge drop from SP&500 Shares is the estimation of the escalating oil prices. Did you know that by now oil prices is already passing the late barrier of $138.50? It is steadily climbing towards $150. here's a link about the impact of oil. http://biz.yahoo.com/cbsm-top/080705/cbf06f5d8ee9a85dcaf93e6ee6d1e75c.html?.v=1 im waiting if the big BANG for oil is really happening by monday.

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