anyone brave enough to be buying?, page-5

The US agreed on a debt extension and now you've got to wonder if this market drumming is being orchestrated to pressure the FED to put in place quantitative easing - QE3 at the FED meeting tomorrow US time. If they do I wonder if things might change.

There's also been talk of this being like 1937 when the markets at that time had a second significant correction i.e. that would be our GFC2. However if we are pacing that financial crisis, 1932 to 1937 is 5 years and we're only 2 plus years since the March 2009 bottom. 5 years would be around 2014 or maybe could coincide with around when the US is looking to raise the debt ceiling again sometime in 2013. Then again, it could all play out very differently and certainly the doomsdayers are out in force.

GXY is still holding fairly well considering (now 60 cents) and might suggest the market sees valve if conditions stabilise. Also ORE has now surpassed GXY on the % slide from their respective January highs to lows. So yes agree there is now little justification to blame internals here.

Just some thoughts.