Today's Market, TGIF

Welcome to the Crystallex HUB on AGORACOM

Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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jcwillis

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Today's Market, TGIF

posted on Feb 19, 2010 03:20PM

A bit less than 40 minutes left of trading...

On NYSE - KRY sp been sticking to 0.34 for the last few days. Daily Technicals of MACD and Stoch showing some indications of topping out. OBV slid down on last fri and Mon while sp moved up a touch, so might want to be aware. 60min techs are indecisive while 15min techs have gone bearish. May have to depend on Meester 400 to pop sp back to 0.34 today. Volume of about 210k at this time.

S&P500 likes the Fed's move from yesterday afternoon of increasing the discount rate (rate it charges banks for short-term loans). Seems to show Gov't faith in a recovery and turnaround. Technology down, Retail up, Restaurants up, Banks (except JPM, hmmmm...) generally up, Energy (NatGas and Oil) generally up.

Gold still working on coming back. Miners having a tough go for some reason. GLD technicals hanging in there. Yesterday, gold price was doing well until just after 4pm eastern time when the fed announced the interest rate increase. Gold Bugs do not seem to believe that the Fed is correct. Things are not all that economically good, especially here in Cali (over 12% unemployment, and a ton 'o Alt-A and Option ARM's recasting in the very near future). Gotta go with the Bugs.