« RiskFile, a new independent research firm, Wed., August 17, 2005, 3:43 PM | Main | Google at work? Thurs., August 18, 2005, 7:57 AM »

August 17, 2005

Terra firma this market is not! Wed., August 17, 2005, 4:30 PM

Equities today are, at best, sitting on terra incognito (unknown ground") because there's nothing solid when, after crude oil dips -$2.83 a barrel, the Dow is up just +37.

In fact, on closer examination, the S&P500 was up just +0.90. That's because, among 500 peers, a ludicrously priced HPQ (up +3.12, or +13.2 pct on the day) had less impact.


163a007.jpg


Moreover, the NYSE Composite was DOWN "18 points on the day.

And one look at this chart of the Dow 30 for the past month indicates nothing is firm.


163a006.jpg


I suspect there were a few naked shorts out on the Street making money today. ;-)

Posted by Posted by Bill Cara on August 17, 2005 04:31:08 PM | Category: Cara Today in the Market