Although Dow managed to go back up 157 points from early down 102 points, Dow Transport also managed to go up but the fact the matter is that Dow transportation did not even go back that broken neckline of 2616, normally a down turn correction will re-test that broken neckline and here you go. DOWN DOWN TO NEW LOW AGAIN. That what it is TREND.
Gold looks bullish, but silver does'nt on Friday Comex silver pits. Lots traders like myself profit taking as I saw Dow reversal I locked in my profits immediately. As you know this gold run up is because of equity golbal sell-off, a bits of filght to qaulity type. But that long term interest rates hit 4.83% historically low indicating no inflation threat in the horizon scary me a bit,too.
This is indeed interesting time in the market place. Lots of oppourtunity to make US$$$$$$$$$$$. For example, I am preparing to sell December US treassury bond, it has move up quite a bits, the trend is up but sell and buy really quickly you can make US$$$$$$, too.
Next week main distrubance factor is Congress 's vote on impeachment inquiry, Clinton speech on IMF and World Bank, and Rubin's Glabal Funding Emergency Package. Also Brasil's Election outcome.
If FED has to ease again that will be On November 17, When FOMC meet again.
October 19, black MOnday is a real scary phenomon in the market players's mind, very much so this year especially.
Hedge fund debacles, FED's bailout, snow ball effects, global economy recession and crisis are in the newspaper headline. Wahohohohohohohoho!!!!!! |
