Tuesday, July 7, 2009

Early Action

AlphaNinja - Markets in the red today, each at their lows and down over a percent. Not too much news, and volume is light. Not helping matters are talk of a second "stimulus," the first of which is both largely unspent and ineffective so far.




Crude oil contracts down 15% from a recent peak. You'd think that would be pleasant news, but look back a year and notice that it was a leading indicator of industrial/retail demand destruction (as well as equity prices). This is the US Oil ETF (exchange traded fund):


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