Friday, June 6, 2014
Some Friday morning news
Here's all the info you need:
Reformed Borker (Bork Bork Bork!) - with the S&P at all-time highs, I still feel the need to freak out. Josh, Bespoke pointed out years ago that volume always goes own when the market is going up. That's because the extra volume of people freaking out is absent. Don't be a pantywaist sissy: buy the S&P.
Bespoke - bullish sentiment edges higher. And yet:
it's still too low for a top. I bet we see 2000 before sentiment peaks.
FT beyond brics - EM liquidity, the danger stalking global markets. The author comes to an incompetent and silly conclusion, but the data is still worth pondering: the people holding EM debt are now left with no way to exit their positions.
Reuters - the southwest monsoon may arrive in 24 hours. And thus, the most important season for gold begins.
HuffPo - McDonalds now supports a minimum wage hike. I guess they realized Henry Ford was correct when he said he wouldn't stay in business if his own workers didn't make enough money to buy his products.