3 days left in Q1 …

Only 3 days left to trade in Q1 …

What do we see?

Volume dries out … volatility comes down …

Bad news keeps coming in …

Today …
- a “profit warning” from Deutsche Bank
- an Oppenheimer downgrade for financials
- an Citibank settlement on Enron (expensive)
- the worst new home sales numbers in 13 years
- an Oracle “miss” after the close (down close to 10%)
- Paulson, who is worried that political initiatives harm and won’t help the housing market
- an drop in durable goods orders
- Fitch downgraded FGIC’s insurer financial strength to BBB from AA and FGIC Corp.’s long-term issuer rating to BB from A
- Google’s paid clicks disappointed again … stock down 3% after hours.

But … all day … last 30 mins excluded … market held up as Goldman kept buying all day … short covering???

After recent horror volatility … especially in the financials … market calmed down … not only equities …

As we saw due to risk aversion trades a lot of unwinding of positions … the real test for the market will come in April!!!

Let’s wait for next Monday … currencies already trying the dollar downside and the commodities trading towards the highs … will we try for the bottom in equities again … the one all said was in … ???

So far it was profit taking only … NO TREND CHANGE …

Tags: Citibank, Deutsche Bank, FGIC, financials, home sales, Oppenheimer, Oracle, outlook, Paulson, Q1

This entry was posted on Mittwoch, März 26th, 2008 at 23:51 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.