MysteryTrader's Commentaries

Shock and Awe, Smoke and Mirrors

by MysteryTrader on Jul 27, 2006

Stock prices opened sharply higher on news of better than expected earnings reports. DJIA component ExxonMobil rose to a new all-time price high after reporting quarterly profit of $10.36 billion. Think about that the next time you gas up. This is one of the benefits of having your own guys running the government. Does anybody remember that they told us that regime change in Iraq would increase oil supplies?

Despite this stock market pop, Bullish momentum is waning. I am looking for a downside reversal.

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About the Author

MysteryTrader

Almost nothing is known about the Mystery Trader. If there were anything much known, he or she would not be such a mystery, would he or she? We can say only this: the Mystery Trader has been trading for a long time, has learned a few things, mostly the hard way, has traded all kinds of crazy financial instruments, has made AND LOST an awful lot of money, and has not died broke well, not YET anyhow, but there is still time for that. The Mystery Trader writes these impressions and thoughts as a kind of an uncensored stream of consciousness journal or diary, largely for his or her own amusement, but also hoping these thoughts might help readers somehow, perhaps occasionally, prevent them from doing something stupid. The Mystery Trader hopes that his or her thoughts might help YOU keep from losing YOUR shirt in the world's biggest casino. The financial markets are notoriously tricky and have ALWAYS been loaded with disinformation, deception, raw deals, chicanery, and outright criminal theft. Unfortunately, little of this bad behavior is caught and punished because the financial markets are too big and chaotic. The Mystery Trader certainly and explicitly does NOT recommend that you blindly accept any ideas presented here or take anything expressed here at face value as actual fact. On the contrary, if anything, the Mystery Trader hopes that this blog might encourage you to think entirely for yourself and develop your own UNcommon sense. Be careful, have fun, and good luck!

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