Daily US Market Comments 10 Oct 2006 by MastersoEquity.com
FUNDAMENTALS
What started out as a scary, uncertain day ended up pretty nicely yesterday. With the North Korean nuclear success, the Oil production cut by OPEC and a lower opening, the markets looked initially to be in some form of trouble in the early hours. However, optimism started building up slowly after a while with the realisation that these events do not necessarily affect the US in a big way. NASDAQ was also given a boost with a 2% rise in Google as the giant gets bigger after buying YouTube.com for over $1.6Billion.
TECHNICALS
Markets continued to rise and once again entered an extreme short term overbought condition. Volume was light yesterday probably due to the bank holidays and with such a lack of participation behind such a weak rise, it is not strange to see the market consolidate a little for a few days before continuing its climb.
Who Would Have Thought Reading Books Would Be So Important To Option Traders?
What started out as a scary, uncertain day ended up pretty nicely yesterday. With the North Korean nuclear success, the Oil production cut by OPEC and a lower opening, the markets looked initially to be in some form of trouble in the early hours. However, optimism started building up slowly after a while with the realisation that these events do not necessarily affect the US in a big way. NASDAQ was also given a boost with a 2% rise in Google as the giant gets bigger after buying YouTube.com for over $1.6Billion.
TECHNICALS
Markets continued to rise and once again entered an extreme short term overbought condition. Volume was light yesterday probably due to the bank holidays and with such a lack of participation behind such a weak rise, it is not strange to see the market consolidate a little for a few days before continuing its climb.
Who Would Have Thought Reading Books Would Be So Important To Option Traders?
posted by Jason Ng at 2:15 PM
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