All markets went sideways today…
In the news today…..
23% of mortgages – in the US are underwater (owe more than the property is worth). This could sink the housing market by itself if a sufficient number of these mortgages go into foreclosure. What could cause that to happen? Hopelessness in my opinion. If the homeowners see [...]
Stock were bouncing around – more volatility and I love it. However, everything went sideways – a typical Friday.
Gold recovered its recent downdraft of profit taking.
In the news today…..
Europe’s GDP – rose to PLUS 0.4% this past quarter. This means that Europe is growing right now, but at a very slow pace. Good news on [...]
Gold, Gold, Gold….. NEW HIGH!!!! That’s the story today. Nothing else. Gold blew off the top of the gold chart today. Why?? India bought 200 tons of the IMF’s 403.3 tons that it said it was going to sell. India’s purchase of this gold (a) reduced the overhang of the IMF sale, i.e. reduced the [...]
Basically all the markets moved sideways, except Gold which rose significantly.
I am watching the stock market, as I believe it could be on the cusp of a breakdown. The DJ30 was “at” the 50 day moving average last Friday, but bounced up today. Tomorrow could be the day it goes below the 50 DMA. The [...]
Gold crashed through $1000/ounce today, and struck $1008 on the way. Gold pulled back during the day, but maintained a gain for the day.
The Dollar crashed to the lowest levels this year; losing over 2 cents against the Euro. Taken together with the Gold move, you can see that something fundamental is happening in the [...]
Sorry for the early closing of economyguy today, but I have to get up early and face an Italian pilot flying Alitalia.
Stocks went sideways today again, as did bonds, as did the Dollar, as did oil, as did gasoline.
Gold, on the other hand, SOARED today as it did yesterday. Hurrah. Breaking those topside resistance levels [...]
Stocks and bonds moved sideways today, as did the Dollar.
Gold fell again, and tested it recent lows – rebounding upward. If the pattern holds true, tomorrow will be an up day.
Oil and gasoline was where the market was today. Both fell well out of their trading range, and are heading for recent lows. Good news [...]
Stocks were sideways, a little up, a little down, all day.
Bonds fell a little in interest rates.
The Dollar was the big mover today. It lost a large amount against most currencies, especially the Euro.
Oil, gasoline and gold all went sideways. Gold had a slight upward bias.
In the news today….
Banks Raising Money – and [...]
Stocks jumped 104 points today on the news that the Treasury Bond auction went okay. Why did it go okay?? Because the interest rates had already shot up over the past 2 days.
Bonds moved sideways, and the Dollar lost a little ground against the Euro.
Oil and gasoline continued their climb upward. You can definitely count [...]
Stocks fell today on the anticipation of poor earnings reports – ending down 186 points. Bonds went sideways.
The Dollar gained today.
Oil and gasoline are in a trench moving up and down in a narrow band. They are still in that narrow band, and therefore are moving sideways.
Gold gained $11 today, but I await a test [...]