Tuesday, February 27, 2007

Some More Economic Data

WASHINGTON (MarketWatch) -- Sales of existing U.S. homes rose 3% to a seasonally adjusted annual rate of 6.46 million in January, the highest in seven months, the National Association of Realtors reported Tuesday. It was the largest percentage gain in two years. Sales were down 4.3% year-on-year.

Remember: It was unusually warm in the first half of January.

Other economic news:

The consumer confidence index rose to a five-year high of 112.5 in February from 110.3 in January, the Conference Board reported. See full story.

10 year note holding to a gain of 10-ticks, yield at just above 4.59%.

3 comments:

Lauriston said...

Jim K,

I hope your 3 yr old is paying attention to more than just the red panda! By the time he/she is 13yrs old, they should have the markets figured out, and they should be minting serious money. I started quite late in life, but luckily I learned a good deal from generous people like you willing to share your knowledge and experience. The kids today are very lucky! I've heard of people like John Murphy drawing charts by hand! Anyway, this is the best day for me since November 2006! It will take me a few weeks I guess to turn bullish on stocks, I don't care how much dip buying goes on from here...

Jim K said...

I have three great children and am raising them to pursue what they;re best at, but I have been teaching them about the value of a dollar and will teach them portfoilio building when the time is right.

Lauriston said...

Jim K

Good start with the dollar! Hey, I am really curious to know how your VIX calls are going esp. between yesterday closing price and today right about now. I have never traded options on the VIX futures, but really interested to know whether they made a good move with the approx. 15% gain in VIX today. I follow the VIX quite closely as an indicator especially for market bottoms, seems for me VIX doesn't work too well for tops. Thanks