Market Overview, June 13th 2008
Posted on Fri 13th Jun, 2008 06:00:53 PM
After this week the bears are back in control as all major indices fell hard. Not even the 2% rally from the NASDAQ today was enough to change the sour mood.
This week Apple’s 3g iPhone didn’t stir as much positive commotion as bulls would have hoped. Also Yahoo shares tanked 10% yesterday as investors realized a buyout from Microsoft is no longer in the picture. Oil didn’t break new all time highs but corn prices did as Midwest floods continue to cause chaos. Long live the commodity bull.
Heading into next week it is anyone’s guess what will happen but the Volatility Index (VIX) is now creeping up and distribution days are a bulls greatest fear.
