Issue 10-31-08
Stocks continued their upward movement, ending up 144 points. There have been so many consecutive up days in a row, that I now believe that Monday is an excellent day for a big down day. We’ll see.
Bonds continued their upward movement in interest rates. This is being caused by old time economics – supply vs demand. The government has a huge supply of bonds coming on the market next week, so that overhang in supply is depressing prices (which is the same as increasing interest rates.)
Oil and gasoline were moving slightly higher – mostly sideways.
Gold fell $20 today, and is a superb buy for your portfoliio.
No new news today…..
Here are Today’s numbers:
Dow Jones 30 Industrial – 9325 (up 144 points)
10 Year Treasury Bond – 3.97% (up 0.03%)
Euro – $1.2729
Gold – $718 (down $20)
Oil – $67.81 (up $1.85)
Gasoline – $1.50 (up $0.05)
