Rubin ask for Public funds to be use to save home foreclosure. This would entice more foreclosures. What was a 5% blacksheep in all the total mortgage population would rise to let say 10 to 20%.
Why should one work so hard for the home, if one can get away scotfree with the help of public funds.
The printing presses are running throughout days and nights. Why dun we just print one side of the dollar note.
The Taiwan Ma Ying Jeou won the election. That would relieve cross strait tensions in coming month. This shold propel the Asia markets higher, and if SPX follows, there are substantional short covering to happen next week. We may have a bullish close on the month.
As for the commodity story. The fundamental picture never change. It was rumoured that FED forces Banks to up margins on the Commodity funds. This triggered the avalanche Taking Profit.
IT seems that everybody in the streets know where Gold is heading to. In fact when Gold was still at 600 to 700, everybody was eagerly to buy the dips to the 200 day moving average. And mind you, it was hell of a waiting.
The national TV hardly talked about Silver, and now we hear them talking about Silver. and people writes that there are no more Silver on the streets.
Next week would be interested.
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2 comments:
Tried to get through most of your previous posts on the blog.
So what are you saying about Gold and Silver? That they will bounce quicker than everyone thinks?
Do you mean forget about waiting to hit 100 DMA's , or even 50 DMA's?
Because we have been noticing good bouncing behaviour off the 50 DMA past few years.
any quick bounce would be sold into.
to trade Gold, you must have to observe its behavious for the past 3 yrs, since Oct 2005
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