Word: marketeers
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...Lean Hogs futures market on the CME is certainly the most liquid and transparent market related to the pork industry, but it can be buffeted by things other than the demand for pork. As hog prices fall, for instance, producers might take on short positions as a hedge, essentially locking in a price for their pigs before the market collapses even further. By taking on that short position, though, they are adding to the downward pressure on hog prices...
...Talk of "green shoots" is everywhere. The stock market is up 34% since early March. Credit market conditions are easing too, if less dramatically. Housing sales are picking up in some of the hardest hit markets, though prices are still dropping. Measures of business activity and consumer sentiment are returning to levels last seen before the great global financial panic of last fall. (Read about the impact of swine flu on the pork market...
Wall Street's number crunchers are happy. Stock technicians, who use mathematical formulas as well as charts and historical data to figure out where share prices are headed, believe the market's rally that started in early March, and has pushed stocks up 36% in less than two months, is here to stay. They say stocks will rise another 10%, before the market stalls. That would leave the Dow Jones Industrial Average at around 9,200, or about where it was in early October, just after the initial $700 billion bank rescue plan was passed by Congress, though still well...
...factors making technicians ebullient is that the number of stocks going up recently far outnumbers the number of stocks sinking. Last week, for instance, nearly 2,165 New York Stock Exchange traded stocks rose, while only 1,009 fell. Market technicians say that is good sign for shares because it means investors are optimistic about the fortunes of a broad range of companies and not just one sector of the market. Technicians also like the fact that historically most rallies last much longer than two months, and that the market hit its low twice, before rebounding. In the past...
...recent report analyst Mary Ann Bartels of Bank of America/Merrill Lynch told clients she thinks the current rally is being driven by outright buying, and not just by short sellers closing out their positions which involves a stock purchase. "The market rally can continue," she says...