Extreme Volatility

Friends

Just a wild and crazy day of trading. After a stellar 270 point Dow rally in early morning trading, worries about the lack of QE conviction of the ECB (yes, the Germans are grumbling) sent stocks tumbling to a triple digit Dow loss (an over 400 point swing). As trading wound to a close, stocks did recover some, but shell shocked traders seemed out of gas as the trading session ended.

 

At the close, the Dow Jones Industrial Average was down 27 points to finish the day at 17,613. The S&P 500 was down 5 points to close at 2023. Gold was down $1.80 to trade at $1231 per ounce, while oil was up after falling midday as WTI was up $.40 to trade at $46.47 per barrel.

All eyes continue to be on the ECB and of course oil prices. Add to that the plethora of earnings that we will see in the next couple of weeks, and you have a recipe for more volatility in the weeks ahead. Stay tuned.

Have a nice evening everyone.

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