Cameron Hanover – Daily Energy Hedger – July 21, 2010

It was a very strange day in the markets on Tuesday. In the morning, the DJIA was down more than 50 points, reaching larger double digits although without breaking 100, the euro was under selling pressure and June housing starts dropped 5.0%. It was the second consecutive steep drop in the aftermath of a first-time home buyers’ credit expiration. Housing starts are now down 19% from April, two months ago.