Covered gold short last night as soon as I walked in the door. 3 down complete.
Riots and government turnovers in middle-east are directly related to commodity push. We don't feel it as much but in the less-developed economies food and energy are a big part of disposable income. I've noticed substitution occurring here. Gold and gold-filled are being discontinued in jewelry supply wholesalers. Cotton is being used less in clothing. Costco no longer carries pine nuts due to cost and a raft of other products are just not being stocked due to cost increases. It inconveniences us but it kills the third world. Egypt, Lebanon, and Tunisia are in serious trouble. The media is not connecting the dots back to Ben, but they're paid to be stupid.
Stock market is still having to prove that it can extend a completed wave structure.
No comments:
Post a Comment