Monday, April 24, 2017

reaction post


Wow... haven't been here for a while, eh? Just did my econometrics test today, was surprised both at how much writing there was, as opposed to just doing math, or ticking off a box on a scantron: he actually wanted explanations of things, which is a new and interesting thing in an economics class.

The exam was easy - there wasn't even anything on dummy variables or functional misspecification. Now I have one exam Wednesday night (making me miss Buffy, the bastards!) and a second on Thursday afternoon, then it'll be a nice long vacation for me to blather market commentary at you during.

I'm also trying to get off my medicine, as there have been a few stories in the press (maybe planted by some company with a new competitor product, you know how it works, it's not as if the NY Times has distinguished itself as a bastion of fact-checking now has it) about how long-term use has very negative side effects. The problem is, not taking my medicine has very immediate and painful side effects. I'll have to go see the doctor this summer to see if I can change what I'm taking.

As for the market?

Wow, big one-day reaction to the French not electing two Euroskeptics to the runoff round, eh? SPY pops and gold drops.

But much of this gold drop was due to a rise in the Euro; $1266 is the Bollinger mean for gold's upward trend support, and $1260 was the top of the breakout support. And the overnight puke was in an empty market, which means someone was just trying to cave in gold to make money being short, which has turned out to be a grand fucking failure for them, hasn't it?

So gold is still perfectly fine and you goldbugs are advised to quit piddling your frilly little pink girl-panties.


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