| Tech Is Walking the Bear-Market Walk
WHEN THE MARKET LIMPED into the weekend after a dreary start to the new year, one of the biggest casualties was the computer hardware sector. Considering that the high-flying Apple is one of its more prominent members, that is saying something. Technology in general is starting to walk the bear-market walk. Computer hardware was thumped last week. Semiconductors have been sliding since July. And networking has confirmed a major technical topping pattern. Clearly, something is not well and risk levels remain high. In technical analysis and trading in general we are often advised to trade what we see and not what we think. While many still believe the economy is sound or at least not heading towards recession the tech sector is walking a different walk. I won't pretend to know where the economy is heading but if a growth-stock area such as technology is heading south then I've got to believe that the stock market is trying to tell us something.
Tell Me About It: Friend's misstep may have been cry for help
Question: I am pregnant with my first child, and a friend threw a shower for me. I invited my best friend from college, who lives four hours away. We graduated about 15 years ago and have kept in touch, but are not nearly as close as we were in college. About a week before the shower, my friend called and said she'd like to come. I said great! She then asked if she could stay at my place Friday and Saturday nights. I told her we already had a houseful and that Friday was going to be stressful. But I said she could stay with us on Saturday night, if she'd like. She started crying on the phone and said that's not what she had in mind, and she'd just come another time. Then, the day before the shower, I got a note from her in the mail with a gift card saying that she wished she could have been at the shower, and that "it would have done me so much good and done you so little harm." I think she's overstepped a boundary.
Bush urges economic action, perseverance in Iraq
House leaders and the White House reached quick agreement last week on Bush's stimulus proposal in hopes of avoiding the kind of time-consuming battle over specific provisions that might now be brewing in the Senate.
Bush also called for reform of mortgage finance companies Fannie Mae and Freddie Mac, and for state housing agencies to issue tax-free bonds aimed at helping refinance troubled mortgages.
On Iraq, Bush praised what he claimed was the undeniable success of the troop surge he began a year ago and cautioned lawmakers about withdrawing U.S. forces prematurely.
"Some may deny the surge is working, but among the terrorists there is no doubt," Bush said to a standing ovation. "Al-Qaida is on the run in Iraq, and this enemy will be defeated."
Speaking directly to American troops, Bush promised "in the fight ahead, you will have all you need to protect our nation," then called on Congress to fully fund them.
Oil prices mixed in Asian trade after surprise Fed rate cut - UPDATE
Interest rate cuts can encourage demand for oil and other commodities in the US, which is the world's biggest economy and largest energy consumer, analysts said. With crude oil holding steady at around 89 dollars, Shum believes that the move to cut interest rates has "stabilized the US stock market even though it closed lower on Tuesday". Shum added that crude oil prices are expected to move upwards Wednesday. The market is also awaiting a February 1 meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna. "The market does not expect OPEC to increase production output but there is speculation that there might be a decision to cut down supplies," Shum said.
|
