Thursday, September 03, 2009

BROKEN DOWN OR BREAKING UP?

As long as the US $ stays weak, there is little chance the markets stage a hasty retreat,IMHO Gold has caught fire last few trading days, I would be watching this closely.

Did we get another 90% one day wonder? On ANY rally (futures pt to positive open) I will be watching buying enthusiasm for renewed buying power.

A stat a friend shared with me, is that in the VAST majority of years where the S&P 500 closed September in POSITIVE territory for the year, the stock market was higher nearly 80% of the time, this study goes back some 40 years! There you go bulls, see I'm not all just Bearish commentary.

One of the FEW exceptions was the CRASH of 1987....ended off 23%. 2 recorded crashes in market history 1929 and 1987, and these are obviously RARE happenings.

Shanghai markets bounced back last night, so going into todays trading, the bias is positive.

AM data at 8:30 can be found at BRIEFING.COM.

D

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