OIL FALLS AGAIN (Bloomberg)
“Oil declined as Iraq pumped crude at a
record pace, with the second-biggest producer in the Organization of Petroleum
Exporting Countries planning to boost exports this year. Futures lost as much
as 1 percent in New York
and 0.9 percent in London.”
Story at…
http://www.bloomberg.com/news/2015-01-19/oil-drops-as-iraq-pumps-crude-at-record-level-amid-supply-glut.html
CHINA STOCK SELL-OFF (MarketWatch)
“A sell-off in Chinese brokerage firms dragged both Hong
Kong and Shanghai stocks lower Monday morning, after the state's securities
regulator punished a dozen mainland Chinese brokers for allowing customers to
delay repayments by longer than currently allowed under China's margin-trading
rules. The Shanghai Composite Index tumbled 4.6%, though off its earlier
losses, while Hong Kong's Hang Seng Index dropped 0.6%.” Story at…
http://www.marketwatch.com/story/china-stocks-slide-with-shanghai-down-4-2015-01-18
I had been hoping for some good news over the weekend (and
some good market action Tuesday) to give a possible BUY signal this week. Neither
of the above stories are going to help on the buy side.
The NTSM system is close to a SELL, but there were hints
of good news suggesting a BUY last week so we’ll just see how it goes. I’ll post some thoughts Tuesday before the
close.
