Notwithstanding $ comments from Bernanke (hollow I know based on the minutes yesterday) last week and policy and potential policy steps in Taiwan, Brazil, South Korea, Indonesia, Vietnam and Russia to reverse the strength in their currencies, the $ index is rolling over again to a fresh 15 1/2 month low and the $ is also lower against Asian currencies. In response, gold is rallying for the 17th day in the last 18 to a fresh record high and continues to extend its outperformance relative to the S&P 500 where bullishness on stocks grew significantly over the past week according to the II data. Bulls rose to 50.6% from 46.1% to the highest since Sept and Bears fell to 17.6% from 21.3% last week and 26.7% the week before. Bears are now at the lowest level since June ’04. ABC confidence fell 2 pts to -47. The MBA said purchases bounced 9.6% off a 12 yr low but refi’s fell 9.5% even as 30 yr rates held steady at 4.82%, a 6 month low.
$ breaks lower/stock bears lowest since ’04
November 25, 2009 8:10am by
This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment. The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client. References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. The Compound Media, Inc., an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers Please see disclosures here: https://ritholtzwealth.com/blog-disclosures/
Posted Under
UncategorizedPrevious Post
Bad Economy Could Spell Good News on Wall StreetNext Post
Bank Capital