Great post, Iso. Not a word to add to it.
GOLD and HGMCY up 2%-3% each so far today, much to my surprise. Will watch COTs carefully tomorrow; it seems an extreme in those can signal a turning point - but we aren't quite there yet (a two-week old chart, but didn't change much last week - a slight improvement for the better).
cache.wsrn.com
I'm torn between buying and holding gold stocks and booking profits when they hit extremes. So far buying and holding has been the way to go, and a case for a long-term gold bull can definitely be made, but they sure can be volatile, and profits can disappear fast in a sharp correction.
What are the odds of a Fed official ever saying this? -g-
Japan cannot artificially boost stocks-MOF Muto
TOKYO, Jan 31 (Reuters) - Japanese Vice Finance Minister Toshiro Muto said on Thursday it was
neither appropriate nor possible for monetary authorities to artificially boost stock prices.
``Stock prices are affected by various factors,'' Muto told a news conference. ``It is not appropriate to
take a policy of avoiding further falls in stock prices and boost them. And it's something that can't be
done even if that's what we wanted to do.''
The Nikkei average finished up 0.79 percent at 9,997.80 on Thursday, a day after closing below the
psychologically key 10,000 mark for the first time since October.
The broader, capital-weighted TOPIX index (^TOPX - news), which hit a fresh 17-year closing low on
Wednesday, rose 0.73 percent to 971.77. |
