Pre-Market March 11th 2009: Quiet but up
Market looks quiet this morning but the trend and Dow futures point up. One surprise this morning is that the 3 Month LIBOR rate has been creeping up from a 1.09% to now at 1.33%. Hopefully this will not go higher as it can freeze credit more if it does.
Put to Call ratio yesterday closed at 0.73 and on Monday it closed at 0.74. The VIX Index closed yesterday at 44.37 which is substantially lower than the latest highs in the mid 50's. Markets in Germany and France, while the UK FTSE is down slightly. The Nikkei rallied last night, rallying for a gain of 321 points and closing at 7,376. Gold is up only about $2/ounce in pre-market and is just below $900. All in all, I believe the markets will still rise and the rally continue the rest of this week.
Put to Call ratio yesterday closed at 0.73 and on Monday it closed at 0.74. The VIX Index closed yesterday at 44.37 which is substantially lower than the latest highs in the mid 50's. Markets in Germany and France, while the UK FTSE is down slightly. The Nikkei rallied last night, rallying for a gain of 321 points and closing at 7,376. Gold is up only about $2/ounce in pre-market and is just below $900. All in all, I believe the markets will still rise and the rally continue the rest of this week.
Labels: 3 Month LIBOR rate, Dow, Gold, market outlook, pre-market, Put To Call ratio, VIX Index
posted by Charles Amico at 5:11 AM
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