Friday, December 28, 2007

New home sales plunge in Nov

Stocks started out on an up tone but are holding about even, although advancers are ahead of decliners 2-1. New home sales declined 9% last month to the lowest level in 12 years. Gas prices are back to $3 a gallon & forecasted to go up 10-20% by spring. Crude oil is over 97 & the Treasury bond yield declined to 4.10% as bond prices rose. Trading in stocks remains light, chances are stocks may slip by the close. The new year will be starting with a bunch of grim statistics, something to think about.

I'm adding graphics. On the right is market data on DIA (it emulates the Dow Jones Industrials) & stocks I follow, statistics supplied by SeekingAlpha. In addition, on the street I was given a copy of the Wall Street Journal. To check their website, click on their name.

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