Good afternoon to you all. It has been a few days since we last spoke
but there have not been any newsworthy items to report. The Dow
continues to trade between 7500 and 8000, which is leading other global
equity markets in a similar yo-yo trading pattern.
The Dow and most global equity markets are trading in the higher end of
their ranges today, primarily due to signs of progress towards in Japan.
Specifically, the Japanese Parliament passed legislation to clean up bad
loans which have put their banking system at risk. Moreover, there is
talk of possible proposals to cut taxes.
As a result, the Nikkei advanced 5.2% and the Dow is now up 160 points on
the day.
OUR COMMENTS
The news represents progress but by no means is significant. We remain
bearish on global economic fundamentals and would use current upward
movement as an opportunity to raise further cash.
We would also like to take this opportunity to wish our Canadian
subscribers a Happy Thanksgiving; our US subscribers a Happy Columbus
Day and our Mexican subscribers Happy Dia de la Raza.
Have a great day.
Regards,
Agora
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