If you like this e-zine, please do a friend
and me a big favor and "pay it forward."
If a friend DID forward this to you and if
you like what you read, please subscribe by
Jul 03, 2006 - Issue #013
End of quarter "Window Dressing"?
At first glance, Thursdays' rally looked impressive until you looked at the calendar.
It is, after all, the end of the quarter. The usual quarterly "window dressing"?
Where was the follow-through on Friday?
You could wonder if going into a holiday weekend had something to do with it. Maybe so.
Did the Feds' latest interest rate move have anything to do with it? Possibly. I noticed
the Dow was already up a hundred points ahead of the announcement. Obviously, somebody
Short covering? Probably, some of that taking place also.
However, reviewing the weeks' action, in the quiet calm after the close, the lack of
follow through stands out.
I could be wrong, but this just doesn't feel like the beginning of the next bull leg as
much as the end of an upswing right before the begining of the next down leg.
I notice gold, silver, and oil all moved up. How can that be good for stocks?
The news on GM being invited to form an alliance with Nisson and Peugeot certainly was
a plus and INTC performed well but, on balance, there were also a lot of minuses in the
list. I make it 12 rising - 9 consolidating - 9 declining for the week in the Dow.
And then, too, vacation time is upon us. Ushering in the summer doldrums?
If you can see a bull market forming in all this, explain it to me.
The Fed said they are going to make future decisions based on data as it comes in. Isn't
that what we all have to do?
Comments? Ideas? Feedback? Let me have it, right between the eyes! I'd love to hear from you. Just reply to this zine and tell me what you think!