Friday, October 2, 2009

Stocks, US dollar, crude oil slide on weak U.S. jobs data.

Markets rushed to buy the dollar as a safe haven as the jobs data was released...The dollar closed below prior resistance of $77.33 (see previous chart posted 9-25)... Oil once again retraced to the bottom of the channel(see chart posted 9-27) and here's today's oil chart...Stocks were weak in general, had it not been for analyst upgrades of apple and some other tech stocks got a boost from UBS and Morgan Stanley...Gold continues to hold at the $1000 support level as I continue to add to my gold position... Market jitters continue to intensify as the recovery shows more negative data... Underemployed approaches 17% as the nations jobless rate jumped to 9.8%... If you believe that I have a bridge for sale in Arizona...





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