Morning all, and isn't it grand to start the day in these shiny new premises? Many thanks to HC for providing a dedicated home for our daily ravings.
Market update: as Kevi says, US markets rallied overnight to finish up 1.4 - 2% despite disappointing job numbers. Markets have been oscillating in a tight trading range for a few weeks now. Which way will they break? The long-term trend says down, but the current refusal to wilt under waves of bad news is very bullish IMO.
There was strength across the board in the US, with REITs the only obvious laggard. Oil rallied 2% near $41. Gold rallied 1% back towards its recent high. Base metals were mixed, with nickel and zinc weakening.
The SPI rallied 56 points from a bearish position yesterday to close at 3428.
I share the general optimism here, provided we can get through the day without any more capital raising announcements. The REITS are due some relief, as are some of the beaten-down industrials.
I'm holding LLC, FGL and AMC. I'm off to the Barrington Tops at lunchtime for the weekend, so quick rallies would be very much appreciated.
Nikk0, best of luck with sorting out your family issue. Come back soon.
