Where to from here?

Well the Dow finally made its record. Now this morning it looks to be coming undone. Well I did say it would be a volatile week. The Dow futures are currently pointing down after Walmart lowered its sales estimates.

Oil gained a bit of ground after Kuwait said that any OPEC production cuts would be voluntary. But let’s not forget that the oil inventory numbers are due out this morning. So if the inventories rise more than expected, I’m looking for a stampede toward the exits for oil. Maybe $55/barrel oil is a lot closer than we think.

Ben Bernanke is speaking this afternoon in New York so the markets will likely be hanging on his every word trying to get his take on where things are going. We could see some movement in the markets on his comments, but I doubt it.

SCUR was down a few pennies and looks like it is consolidating at this price level. I’ll give it a few more days to try and mount some kind of recovery. If none is in sight, we’ll have to take what’s on the table and move on.

CLRK closed at $19.00 for a one day gain of over 9%. Looks like my long term stock has turned into a short term play. We’re gonna stick to our original plan and hold CLRK long term. Should we make any money on the short term stuff, we can always by some more CLRK. Why was it up so high? They signed a licensing deal with Osram Sylvania. One of Osram Sylvania’s subsidiaries is going to produce light fixtures for CLRK’s colour LEDs. Now that there is a large player like Sylvania selling LED products on behalf of CLRK, they should get wider penetration of their lighting systems. The other thing the market is looking at is the potential for further deals with Sylvania for the white light products. If all goes well with the colour deal, Sylvania will want to do one for the white lights and become a market leader in a new technology.

All we need now is a couple of analysts pushing it up…