每日市场点评 --- November 7, 2007

What a bloody day on Wall Street for this Wednesday! The tone was set overnight as US dollar got sharply lower after a Chinese officer talking about preferring strong currencies over weak ones. As expected, both gold price and oil price shot up and at one point, oil price was just a little over $1 below the $100 mark. Although the oil inventory data was a little bearish today, the commodity can easily reach $100 if some geopolitical events happen in the next few days. Financial stocks were weak across the board and several big names including Citigroup and Morgan Stanley have dropped over 20% just in the last 5 sessions. Some smaller names are faring even worse. For example, Washington Mutual dropped over 17% today and now is traded at a level last seen back in 2000. The VIX is back above 26 but still quite far from high reached back in mid August, so it may be a little early to do bottom fishing. Tomorrow will be another interesting day as we are going to get both AIG and Cisco earning results tonight and also the interest rate decision from ECB and Bank of England. On top of that, we are also going to get same store sales numbers from many chain retailers. Fed\'s chairman Bennake is also going to make some speech and certainly the market will listen carefully during this turmoil time.