asia and the metals 2/19

Fooled you! So you thought the markets were closed today for the
holiday. Wrong.

Be careful with TV biz news because they're talking about how asia was
down and is now flat for the year . . . cretins. That's just Japan
which was off -1.75%. The rest of asia was up, TYVM! Korea gained
+1.16%, Taiwan +0.19%, HongKong +0.79%, China +0.83% and India +0.98%.

As for the metals spot market, they don't get a holiday either. And
they're all up very nicely. Gold is now 555.60 +3.80, silver 9.56 +.15,
platinum 1024 +20 and palladium 288 +1. XAU will be way behind but
Friday was a good day for the metals as the XAU closed at 138.93 +1.55
- we'll have to wait for tomorrow to see what happens to it.

Generally very good news this morning and the markets are technically
closed. That's VERY good stuff. As mentioned below, I'm going to raise
a little more cash tomorrow - go from ~10% to ~20% in my accts and
raise wifey's cash level a similar amount. Last year was glorious and
this year's been good so far - time to take some profits and dampen
things down a bit as we're coming into the slow time of the year. And
while most of the commentators and talking heads are universally
bullish, my signs are looking bearish as are some of the folks that I
heed most. No reason to go to the mattresses - just take some profits.

Now for us that do have a holiday today, let's hope it's very nice and
enjoyable.

best,

rono

Re: asia and the metals 2/19

rono wrote:
> Fooled you! So you thought the markets were closed today for the
> holiday. Wrong.
>
> Be careful with TV biz news because they're talking about how asia was
> down and is now flat for the year . . . cretins. That's just Japan
> which was off -1.75%. The rest of asia was up, TYVM! Korea gained
> +1.16%, Taiwan +0.19%, HongKong +0.79%, China +0.83% and India +0.98%.
>
> As for the metals spot market, they don't get a holiday either. And
> they're all up very nicely. Gold is now 555.60 +3.80, silver 9.56 +.15,
> platinum 1024 +20 and palladium 288 +1. XAU will be way behind but
> Friday was a good day for the metals as the XAU closed at 138.93 +1.55
> - we'll have to wait for tomorrow to see what happens to it.

OK, I'm going to go out on a limb with this prediction. I'm
increasingly convinced we've seen the bottom in this current correction.
Gold may fluctuate in a trading range for a while longer yet, building
up a head of steam. But after that, it's back to bull market again.

The only thing that could upset this apple cart is if Bernanke really
does continue to tighten money and credit. But does he really want to
risk a recession?



--
Steven D. Litvintchouk
Email:

Remove the NOSPAM before replying to me.

Re: asia and the metals 2/19

rono wrote:
> Be careful with TV biz news because they're talking about how asia was
> down and is now flat for the year . . . cretins. That's just Japan
> which was off -1.75%. The rest of asia was up, TYVM! Korea gained
> +1.16%, Taiwan +0.19%, HongKong +0.79%, China +0.83% and India +0.98%.

What gets me is Japan's fundamentals are all strong - GDP recently up
along with private resource investments primarily draining Japanese
NAVs. La Belle et la Bete. Talk has it up tomorrow - last week's
closure, people were covering their assets for the extended weekend.

- Beauty and the Beast.