Wednesday, September 29, 2010

No POMO Today; Stocks Down

The Fed didn't pass along any free money to the primary dealers, so trading was slow, nobody buying much of anything, stocks fell.

I told you my ob was going to get easier thanks to POMO and the Fed, didn't I?

There's a POMO scheduled for Thursday, so stocks will be up.

Here's today's scoreboard, as if anyone actually cares:

Dow 10,835.28, -22.86 (0.21%)
NASDAQ 2,376.56, -3.03 (0.13%)
S&P 500 1,144.73, -2.97 (0.26%)
NYSE Composite 7,299.31, -11.01 (0.15%)
NASDAQ Volume 2,116,638,250
NYSE Volume 4,256,400,000

Yes, that's the gist of it. Advancing issued did outnumber decliners, 3076-2607. There were 421 new highs and just 27 new lows. The economy must be absolutely booming! Volume? Don't ask.

Oil gained $1.68, to $77.86, but it probably can't go much higher as $80 has been upside resistance for the last year and a half.

Gold, last bid was $1309.90. Silver was up another 16 cents, to $21.90.

Jobless claims tomorrow at 8:30 am. Place your bets!

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