The Prudent Trader - ETF Range Projections for 1/28

ETF Range Projections for 1/28

Written by Bill Zimmer
Wednesday, 28 January 2009
Late yesterday CNBC reported that Obama was nearing a "bad bank" plan which rallied the futures nicely. Bloomberg News is reporting that the Federal Deposit Insurance Corp. may manage the plan. Some estimates are that the government could take on $1 trillion of bad assets. Trillion is the new Billion…a trillion here, a trillion there. Overseas markets liked the report: Nikkei 225 +0.56%, DAX +2.9%, and the FTSE 100 +1.96%. At approximately 2:15 PM ET is the FOMC Meeting Announcement. As of about 8:05 the futures are pointing nicely higher: Dow +108, S&P +17, Naz +14, Oil -$0.24, and Gold -$14.00. Have A Great Day

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