First interesting article is from The WSJ regarding China's decision to remove some restrictions in Chinese bank gold trading. Upon hearing this news, gold has been up about $10/ounce in less than 24 hours. We'll see if this adds to China's long term importation demand for the yellow metal.
Second link is from the Big Picture. We have once again hit the 50% retracement level in the S&P 500. Stocks (once again) are not inherently cheap. Ritholtz draws the conclusion : "That does not mean we cannot grind upwards from here; it just means that its going to take a lot of something — good earnings, liquidity, sentiment, breadth, momentum, psychology, quantitative easing, something – to move higher from here"
I would have to agree.
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