The energy market has taken its dead cat out of the freezer (I think Drudge or Obscurestore had some type of story motif like that recently) for a bounce tonight. WTI is up 64-cents to $52.52. I had a series of short trades down to $51.97 today which were a success. I was seated at the monitor here this afternoon watching the trading activity and the melt from $53.50 down to $52. The action had a pretty desperate quality to it. I don't think the bears are quite done with crude oil yet. But the Wall Street Journal is reporting a senior OPEC member as saying the cartel may hold an emergency meeting and consider other options in an effort to halt the slide in prices. As mentioned earlier, tanker industry data indicates cheating continues among cartel members. Tisk, Tisk.
-Nat gas trading volume is dead tonight, its price is a half percent lower.
-Dollar little changed...
-Gold remains range bound (and you thought only steaks were range bound), down by $2.
-S&P futures up 5.
After my little diatribe about the return of the bull to Wall Street thanks to leadership in tech, AMD tonight warned (Read about it Here). It's shares fell more than 2%. The article discusses the lower ASPs which is likely due to the recent product rollouts by INTC whose shares only slipped .3% after hours. So it appears, at least this evening, that in the ongoing game of Rock 'em Sock 'em Robot that AMD and Intel are eternally engaged in, Intel is knocking the block off of AMD in this round, err - cycle.