Wednesday, March 23, 2011

US Markets Still Weak

Dear traders,

Although the rise in the Japanese stock market earlier this the week has led the rally in the global stock markets, the US stock market indexes - namely, the Dow Jones Industrial Average, the S&P 500 Index and the NASDAQ Composite Index are still trading below their 30 Day Moving Average.

Investors are basically worried about that the allied coalition military intervention in Libya will prolong the shutdown of oil output from this OPEC nation. Oil prices traded near US$105 a barrel on Wednesday, 23 Mar 2011, in Asia. Since 14 Feb 2011, oil price has jumped 24 percent as violence broke out in North Africa and the Middle East.

Yours Truly,

Tony Chai


Roland said...

Hi Tony, any further updates, I enjoy reading your blogs

Tony Chai said...

Hi Roland,

You have a great blog too.

Just a little remark. The article in your blog "What Option Trading Is Not" is actually written by me.

Don't you think you should give me a little credit after that blog post? :)

Anyway, keep up the good work. Hope you monitor your watchlist closely too.

Good trading,

Tony Chai