It's Wednesday Already?
Man, 4-day weeks do fly by. This morning, futures are way down. Some are expecting a retest of the lows in the next couple weeks. I think we might be surprised by how quickly the market finds support. I think this rally has some more legs in it, and a correction could be a buying opportunity for select stocks, or also for "hot stocks" if you have a short-term outlook.
That said, it's probably better to buy tomorrow or Friday after the dust settles. And today's close will be important.
Longer-term, the fact that the market has pinned its hopes on the Fed cutting rates is troubling. I think any rate cut from the Fed will be symbolic at best unless things really hit the crapper. I mean, if the Fed was going to give us a real rate cut, wouldn't they have done it already, when the credit market outlook was scaring the bejeezus out of everyone two weeks ago?
Therefore, the Fed's September 18 meeting takes on significance. If things continue the way they are, we could see the market's next intermediate top around that Fed meeting -- probably a little ahead of it. Of course, the Fed and/or the White House could cause the market to change tracks with any number of actions.
Here is some news you can use for Wednesday.
Commercial Real Estate in U.S. Poised for Biggest Price Decline Since 2001 U.S. commercial real estate prices may fall as much as 15 percent over the next year in the broadest decline since the 2001 recession as rising borrowing costs force property owners to accept less or postpone sales.
Nuclear Bid to Rival Coal Chilled by Flaws, Delay at Finland Reactor Site Martin Landtman hunches forward in his shirtsleeves as a June storm on Finland's Baltic coast drenches the construction site of the world's most powerful nuclear reactor. As project manager for TVO, the joint venture buying the plant, Landtman has weathered far worse annoyances than rain.
Dining on yellowcake with the devil Russian nuclear power stations account for 16% of the country's electricity production. Last year the Russian President, Vladimir Putin, demanded the proportion be increased to 25%t by 2030. These ambitious plans have already raised a storm of indignation from environmentalists in Russia. Meanwhile, the press has already reported that economically viable reserves of uranium in Russia are enough to last only until 2015. To fulfill exports and to supply its own nuclear plants, Russia has to buy uranium from other countries.
Harper to Give October `Throne Speech' That May Trigger Canadian Election Canadian Prime Minister Stephen Harper said he'll give a speech outlining a new agenda for his minority government, which may trigger an election if opposition parties combine to reject the plan.
That said, it's probably better to buy tomorrow or Friday after the dust settles. And today's close will be important.
Longer-term, the fact that the market has pinned its hopes on the Fed cutting rates is troubling. I think any rate cut from the Fed will be symbolic at best unless things really hit the crapper. I mean, if the Fed was going to give us a real rate cut, wouldn't they have done it already, when the credit market outlook was scaring the bejeezus out of everyone two weeks ago?
Therefore, the Fed's September 18 meeting takes on significance. If things continue the way they are, we could see the market's next intermediate top around that Fed meeting -- probably a little ahead of it. Of course, the Fed and/or the White House could cause the market to change tracks with any number of actions.
Here is some news you can use for Wednesday.
Commercial Real Estate in U.S. Poised for Biggest Price Decline Since 2001 U.S. commercial real estate prices may fall as much as 15 percent over the next year in the broadest decline since the 2001 recession as rising borrowing costs force property owners to accept less or postpone sales.
Nuclear Bid to Rival Coal Chilled by Flaws, Delay at Finland Reactor Site Martin Landtman hunches forward in his shirtsleeves as a June storm on Finland's Baltic coast drenches the construction site of the world's most powerful nuclear reactor. As project manager for TVO, the joint venture buying the plant, Landtman has weathered far worse annoyances than rain.
Dining on yellowcake with the devil Russian nuclear power stations account for 16% of the country's electricity production. Last year the Russian President, Vladimir Putin, demanded the proportion be increased to 25%t by 2030. These ambitious plans have already raised a storm of indignation from environmentalists in Russia. Meanwhile, the press has already reported that economically viable reserves of uranium in Russia are enough to last only until 2015. To fulfill exports and to supply its own nuclear plants, Russia has to buy uranium from other countries.
Harper to Give October `Throne Speech' That May Trigger Canadian Election Canadian Prime Minister Stephen Harper said he'll give a speech outlining a new agenda for his minority government, which may trigger an election if opposition parties combine to reject the plan.
Check out my new gold and energy blog at MoneyAndMarkets.com
posted by Sean Brodrick @ 8:15 AM
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