Monday, October 13, 2008

For the Record books

Getting to be a tiresome headline. I'm VERY happy for today's performance. I was seeing some real despair expressed.


nice said...

Bizaarest action in the backrooms i've ever seen on some markets the past few days - sometimes orders on smaller markets like Canadian markets take 45 minutes to get through - and many stocks/etf's don't open until 10:30

US computers doing better

Some of these countries are going to have to update their computers...

btw still odd that Shanghai was down yet everyone else up - China is supposed to be the engine of growth

nice said...

Baltic Dry Bulk index down another 8% overnight - lowest since 2002

Reflation may help paper 'economy' - but will it filter through to real economy?

Seems to be taking larger and larger sums of money (trillions) and credit just to keep the economy growing a few measley percent.

6 year cycle has bottomed - so could take pressure off stocks until next summer - starting to take a look at the weakest sectors over the past 15 months (non PM mining stocks) many which are down 60-80% since last July - TCK FCX PCU etc...

Seasonals for these start soon - and they may lead any possible turn in the Bulk Index should the trillions being thrown at the market positively affect the real economy.

If these stocks don't move now - and tax loss selling is not already done on them - then they may stay weak until the end of the year...

Oddly enough the committment of traders report for copper has had one of the more bullish readings the past months during the crash - so players may have already bet for a recovery in copper - have they got it right? or will they get burned like they did trying to call the recent bottom in Ngas?