Good Afternoon ,
Well, I stand a tad forlorn this afternoon watching the markets get smacked this afternoon on low volume. I had thought that the rally off the lows in the
Markets opened higher today alright but the rally lasted until about 9am and then the slide began , there was an attempt at a rally from 1.30 when the first bits of USA data cae out but by the time the final pieces of today's Jigsaw were assembled the market was already in Flight mode.
Jobless claims were a bit higher than expected at 551k vs 535 expected , ISM manufacturing prices were below the forecast levels as were prices paid at 52.6 (54 forecast) and 64.5 (66 forecast)
Markets nervous , bias to the downside , Industrial production number is the key concern with commentators speculating on whether the weakness shows that the re Stocking has slowed and there is no follow through in the real economy from the inventory build….
Was never going to be that easy…This is the start of a nerve wracking and crucial quarter and everynumber will be pored over…
Have a good evening … lets see where the Dow roller coaster takes us tonight…at 5pm -1.5% is not inspiring me…
Liam
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Liam Boggan
Merrion Stockbrokers
Tel.: 353-1-2404171
Mob:353-87-2313505
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