Day 11

Situation:

U.S. Markets: Stabilized after the 2 day squeeze … up this morning on Bernanke hinting to a December rate cut and the WSJ reporting, that the Govt. will “freeze” rates on subprime loans … hmmm … this sounds like old communist politics … ooops …
housing figures were bad … Sears and Dell earnings bad as well … Dell down more than 8% after the close.

Asian Markets: Most of them up slightly on US on light volume as it is month end

Commodities/Currencies : No big change against yesterday … Oil made a 4$ upmove and lost it all again …

Events: US … PCE Oct., Personal income and - spending, Chicago PMI, Construction spending …

Ideas/Strategy: … As monthend often is a low volume day and offers sometimes erratic moves, I will try to catch some points, but very cautiously … still we could face some upside pressure as statistics show … weak November, strong December … and FED guiding the way … so Shorts may become quite worried here.

supports: 7788/90 … 7760 … 7720 … 7707 … 7660/70
resists: 7825/30 … 7855 … 7900 … 7911

Tags: Bernanke, daily outlook, subprime

This entry was posted on Freitag, November 30th, 2007 at 09:08 and is filed under FDAX. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.