Wednesday, October 21, 2009

The Market On Wednesday

At 8:28 a.m. futures are significantly down.

Take the day off, and go have some fun. Its the Fall, no other excuse is needed.

Yes, more corporate reports on the third quarter are coming and many of them have investors jumping with glee.

However the underlying sentiment seems to be that the markets are at their peak, for the time being that is. So, there is a sense that 10K is a number that will stick for a while, the center of the circle so to speak.

CNN: Weak open seen for stocks
David Jones, chief market strategist at IG Markets, said that the Dow, having reached 10,000, will probably keep "flipping around" at that level for the immediate future.
Reuters: Stock futures lower after Boeing loss
"The market looks like it may trade down at the open for no other reason than the fact that we have some concern about getting to a place too far, too fast, and there is not much more to it than that."

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