QUOTE(AdamG1981 @ Jun 11 2008, 08:02 PM)
The Fed Beige book is being released at 2 am tonight.. (while i be waiting for Portugal vs Czech) and the words will be scrutinized closely by investors. Right now, investors think the US economy might dodge the recession bullet, but with signs of stagflation looming, many are scared to invest their money in US equities. Also, on another note, the crude inventories is going to be released at 10:35 pm tonight, i am expecting a fall in inventories of 2 million bpd. anything highter than that, we might see a rapid spike in crude prices again.
IF both reports are indeed "scary" for the investors, we might see a fall of 200-300 points. To avoid a big drop, the FED has to convince investors that they are not planning to raise rates soon but there have been huge bets pointing to a 75 basis points increase.
Take a look at US Treasury 2 year, its now 2.09%; and US dollar has rallied to 1.54 against the Euro after Ben's gungho speech. I am afraid Malaysia will have to follow suit; as UK, US, China, Australia had all reported acclerated CPI/PPI.
US CPI / PPI this friday. FRIDAY 13TH !!!!!!!
Well describe! Good...
Looking at DJ chart, seem it is heading south/downtrend.
If u didn't mentioned Friday 13th, i almost totally ignored of it. Now, it increase my bet that this Friday will be BLACK FRIDAY.
Tomolo and day after will have plenty of reports coming out. Main report: Retail sales data(tomorrow) and CPI(this Friday)
Waiting DJ to drop till below 11900. Strong supported at 800MA.