BAGAKOAA October 12,2009 A Quiet Day
October 12,2009 A Quiet Day
Quiet day today in the market. Columbus Day had me fooled as I thought the markets were closed. At 6:30 this morning I was enjoying my cheerios and low and behold the bell on Wall Street was ringing. That means I missed my chance to readjust my stops. I will get to those tonight. I was looking at all the news from last week and trying to figure out, what was the catalyst for the bump is stock prices. There was some good retail news, but that was probably expected. If I had to pick one thing, it would be the reserve Bank of Australia’s surprise decision to raise its prime interest rate. It might have been a wake up call to money fund managers that this recovery is strong enough to have to worry about raising interest rates to slow it down. It could be a tell of how strong this recovery might be. NOTICE the word COULD and MIGHT.