First, is today the beginning of buy dips mentality?
Second, the SP500 was up and the Nasdaq down, a reverse today?
Third, gold and silver still strong!
Fourth, GM up and GS down a buck
Lastly, happy thanksgiving. It is truly the one holiday to reflect upon. And this is as good a time as any to do that.
Sincerely
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2 comments:
This is the worst week to impute anything about the markets' trend, because most people are off this week for Thanksgiving or some part of it. So you are getting no indication of anything. What's more important is that the US Treasuriy curve is not only flattening but it has dropped yields across the board. T-Bills up to the 1-year don't provide much yield at all, which screams that people are freaked and they are parked there in the mean time even if they get zilch. Where do you go if you can't make some yield and equities are too risky? Precious metals? The market is too risky to buy, but it's too oversold to short. What then? Patience. Patience.
Would have made some big $ if one traded.
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