Thursday, December 01, 2005

Dow, Nasdaq

Well here we are the first day of December, and already the Dow racing for 11,000. I just do not understand the positive sentiment in the market. Are we all fools, can Google, and Apple be driving the market? In the past it has taken hundreds of new companies, and promise to drive positive sentiment in the market. Now just a few shining stars and the bulls are running the show? Have we forgotten that fuel prices are still up 20% year over year, and if we took an average price for 2005 up more than 30%. Why are we celebrating? Why is the market on a bull run for 11,000? I just do not understand it; at best the money going into the market may not lose value. However, it is destined to sit, and not appreciate much. I do not see the Dow moving more than 200 points over 11,000. As for the NASDAQ, it may have some room to appreciate, but not much.

Penny Stocks of the Day
The S&P 500 dumped Calpine now trading on the OTC Pink Sheets CPNL. Calpine is embattled over the sale of certain natural gas assets, and the distribution of the proceeds. I see CPNL as a penny stock swing trade opportunity.

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