Thursday, October 11, 2007

What Is Up With The Market?

What is up with the market? It is acting as if it has no confidence.

The price of oil is up $1.78.
The price of gold is up $10.70.
The price of silver is up.
The S&P 500 hits a new high today.
The DJIA hits an intraday high.
Volume in the stock market remains anemic.

Then starting at 2pm (EST), shortly after the markets hits their highs, the markets starts a decline (see charts below from Yahoo). This is after all the bad news about retailers has already been announced.

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