It was obviously the currency traders that were in the loop this time around. Yesterday the sudden buying in the Euro really impressed me so a few people were in the know about what was coming. The ultra short Euro ETF EUO highlights this – a few positions were closed out at a very timely moment!!
A couple of other ETF’s of interest – GDXJ – little golds and ERX energy. Whether gold can hold the breakout, I don’t know but it is certainly a big step in the right direction. Silver caught a bid but not enough to be confirmed. Copper was better but far from re-assuring.
Interestingly BHP looks like it has broken out of a triangle in New York trading with that chart looking a lot like the gold chart.
We also know after yesterday’s performance of SIR that speculative fervour hasn’t gone away - just been dormant for a bit.
peter pumpkinheads - churcihilian voice friday, page-34
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