Good morning DJ, I again dunno. I mean …
(a) confidence drops to 9 year low;
(b) possibility of war guaranteed by Bush, with ‘UN becomes irrelevant if it does not vote for second resolution’;
(c) N.Korea test fires anti-ship missile, readying for battle against ships, not Seoul;
(d) ECB announces that unidentified European CB sold ‘unusual’ amount of gold;
(e) Iraq appears to be more cooperative with weapons inspection, raising the possibility of perpetual inspection and forever war; and
(f) Pentagon hints at action against Iran, Syria and N.Korea after Iraq.
… and stocks rise, gold dips, because of whatever I cannot see.
As far as (d) is concerned, we know the market absorbed the sale without hiccup, and that the ancient rule that deficit countries must sell gold to surplus folks still work.
I am travelling in the sticks for the next 14 days, starting with Beijing, then ShiJiaZhuang in Hebei Province, TaiYuan chinats.com in Shanxi Province and LuoYang travelchinaguide.com in Henan Province, Guangzhou china.muzi.net in Guangdong Province, and then Beijing again before back in HK. I have never been to Taiyuan and LuoYang, and these could be really backward compared to my normal haunts. Much of the travel will be by train.
I may not be able to post much if at all until return, and I may not be able to react to market events at all. Strangely, I am not worried;0)
Chugs, Jay |
