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For some weird reason, silver moved up today. The SPY looks happy, GDX looks happy, $VIX and UUP moved down with a bit of conviction.
So, I might be screwing myself, but I'm calling a bottom. Everybody's scared of everything, everyone's expecting last fall all over again without any reason; so you saw a big puke over the past couple days.
But, as I'm saying, boots-on-the-ground-wise, nothing has changed as far as I've heard. China is still what it was last week, Greece was still what it was last week, and the US is still what it was last week, global growth is still what it was last week.
So I'm back in.
11:45AM EST. Mark that on your calendar. Y'know... just in case the market pukes back down to 0 while I'm out buying new clothes.
Look what came out at 11:13 this morning... Might have had an effect on silver.
ReplyDeletehttp://online.wsj.com/article/SB10001424052970204276304577265803925182234.html
Fed may be trying to counter act the strengthening dollar with some sabre rattling.
Friday should be interesting with the jobs numbers coming out.
Or maybe the USD is up just as a short-term safe haven by people scared of Greece.
ReplyDeleteADP jobs number was teh awesomez.