Comex Gold Short Increases Dramatically
30 minutes ago
Wednesday, August 3, 2011
Broader Markets Move Into Bear Market Territory
I'll touch on commodities later today. Note the SPYs, IWMs, DIA, and IYTs have all moved through their simple 200 day SMAs printing strong bars on high volume. This is bear market territory and not a good market -- unless you're looking to short the broader markets.
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1 comment:
Your charts and thoughtful analysis are a great boon to your readers.
On the other side, more evidence of fiscal unreality, as reported on Fidelity.com:
"The ins and outs of 'stuffed' ETFs
BY elizabeth o'brien, SmartMoney — 07/25/11
[SNIP]
On the TV comedy Seinfeld , Kramer wrote a coffee-table book about coffee tables. Now the financial industry is pushing an investment that he would love: an exchange-traded fund filled with exchange-traded funds...."
and there are only a few dozen of them at this point. (8^))
I am old enough to remember the mutual fund full of mutual funds, and that this ended up badly. Does the market need that sort of help?
On the other hand, the market is continuing to sag without this help.
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