Global Market Commentary, Analysis and Investments
Markets in the US “Ummed” and “Ahhed” yesterday. Shortly after 11am, the Dow had “Ummed” its way up about half a percent. By close, it had “Ahhed” back to where it finished the day before. Despite all the moans and groans, it was a rather anticlimactic day for investors.
Meanwhile, gold lost a tad, oil fell a smidge. Oh, and the Macedonian MBI 10 Index inched lower by 0.23%.
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We asked you, the Daily Reckoning readers, to submit your ideas for the “Trade of the Decade.” You responded with a flood of excellent responses. We regret that we cannot publish them all.
Yesterday, we presented some of your submissions. Today, we present a few more. So without further ado, here’s goes:
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Markets Make Fools of Us All
As the Dow Jones Industrial Average advanced further above 10,000 yesterday, gold slipped back below $1,200 an ounce. We are not exactly sure what we think about the stock market’s resurgence – or about gold’s retreat – but we are pretty sure what we do NOT think.
We do not think stocks have vaulted into a new bullish trend; nor do we think gold has slumped into a new bearish trend. Rather, the recent moves feel like short-term, counter-trend noise. This noise might last a few weeks, but we would not mistake it for music.
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