(As of 7:04 am pacific)
We are experiencing what
appears to be a relief rally from China’s GDP report, which was not as bad as
it could have been. Also, the market is
due for a bounce after a number of days of declines. Oil is up slightly, gold is rallying, interest
rates continue their downward trend and the dollar is mixed. Earnings reports are mixed, but, once again,
not as bad as they could have been.
Alas, I don’t see this rally going much of anywhere today as the
implications of a global slowdown overtake the relief from these poor reports
which, although better than expected, will still dampen the opening market
optimism.
