The Market On Wednesday

At 8:00 a.m. futures are significantly up, the dollar is up against the euro (of course) and flat against the pound and yen. Also, oil is up to around $70 per barrel.

One would think that this happy trifecta would indicate that stocks will gain today. Well, they might gain, and they might not. The market is basically all over the place. Recall yesterday which began with the DOW losing 200 right off the bat, and then by 4 p.m. closes in the sideways direction, relatively flat.

Journalists are expressing less worry over the European fiscal crisis. I don't expect that to hold one little bit.

I think its still time to fasten your seat belts and hang on.

CNN: Stocks poised to rebound

...investor fears about the economic outlook eased and global markets stabilized.


"Gains in European stocks is a healthy sign..."


U.S. light crude oil for July delivery gained $1.97 to $70.72 a barrel.