Recently Federal Reserve Chairman Ben Bernanke showed optimism predicting the end of the recession by the end of 2009. We all from Wall Street to Main Street hope he is correct. We need to be able to generate jobs and keep people in their homes. Mr. Bernanke’s statement temporarily stopped the Stock Market avalanche slide […]
Archive | February, 2009
Horrible Data and Technical Support May Trigger Rally
Bonds and notes spent the day paring early morning losses. The Federal Reserve issued $22 billion in 7-year notes for the first time since 1993 and found a decent amount of demand for the security. Additional price support was found as rumors that Chinese officials seemed to imply that buying fixed income assets would still […]
Choppy Trade as Shorts Cover on Dips
Ben Bernanke seemed to have revived the financial markets, at least temporarily, for the second consecutive day. At one point the S&P was trading nearly 20 points into negative territory; however, details provided for “stress tests” and the granting of immediate access to further government support from the $700 billion bailout fund managed to turn […]
Bears Retaining Technical Advantage in Soybeans
May soybean futures at the Chicago Board of Trade late last week dropped to a fresh two-month low of $8.54 1/4 a bushel. Price action this week has seen some tepid