Archive for July, 2012

Price Action or Sentiment — What’s Driving the Dow and the S&P?

Sunday, July 29th, 2012

Monday and Tuesday of this last week, the Dow started down 200 points. This came on the heels of last Friday, where the Market was also down over 100 points. Then something changed. Suddenly the Market put back on 400 points. What changed? Was it price action or sentiment that changed the Market’s direction? (more…)

CFTC — PFGBest — Well — It’s About Time!

Sunday, July 15th, 2012

On Friday, 13th of July, the Commodity Futures Trading Commission (CFTC) finally approved financial rules submitted by the National Futures Association (NFA) to ensure customer funds held by Futures Commission Merchants (FCMs). What finally pushed the CFTC to file new protections? FCM firm, Peregrine Financial Group Inc. (PFGBest) declared bankruptcy after losing $215 million of customers segregated funds. Once again, the CFTC failed to protect futures traders. (more…)

What Will This Week’s Earnings Season Bring?

Sunday, July 8th, 2012

At the beginning of this last week, the Market was flying again. Perhaps because Wednesday was the 4th of July. Perhaps because they knew that on Friday the unemployment numbers were not going to be wonderful and would like cause the Market to come back down. Taking no chances, institutional traders ran the S&P 500 ran back up to 1374. And by Thursday, the Dow had regained 12,955, looking as if it were going to break back above 13,000. Could the Market recover all it had lost in May? But Friday came and took the wind out of the Dow’s sails, dropping the Dow back down to 12,778. (more…)