Off the Charts
The fluid situation in Cyprus continues to rile world markets as this morning's small gap up was met with selling, although we were able to close well off lows of the session. The action in the futures Sunday night and at times during today's session are reminders of the fragile nature of world markets, especially as they relate to the European debt crisis. Even with the Dow at all-time highs and several years removed from the carnage of the financial crisis, you don't get the sense that investors have learned to fully trust this market again. But that's the world we live in, and we have to learn how to navigate it. The Dow was able to eke out a small gain of 0.03% today, but the S&P (SPY) and Nasdaq finished the day down around 0.25%.
SPDR Gold Shares (GLD) tacked on gains after yesterday's strength, closing the day up 0.42% as it continues to seemingly act as a pure fear barometer. Crude oil weakened significantly, erasing all of yesterday's gains and more on its way to a 1.69% loss on the day. The Basic Materials sector was hit the hardest in today's session with the Market Vectors Oil Services ETF (OIH) closing the day down 2.24%. The financials also saw continued weakness after yesterday's sell-off and remain sensitive to headlines surrounding Europe....784 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.