Totally and utterly a game. You can't reverse with 25 mins to go and pull a rabbit out of the hat. NOTHING changed in the session. Ben spoke at 10am(yank time). They all caked their pants coz he mentioned the word 'faltering'. Then they sooked coz the Apple man wasn't 'like Steve jobs', had no panache with his delivery etc. Plus, the new iPhone 5, in the market's opinion offered too little and they tanked the Apple SP lol I think they're using so many smoke screens and mirrors that they aren't realising there bull dust, or should that be, bear poo, is so ho hum. Only the naive are being fooled. Personally, I would have preferred for it to stay red. At least we know where we stand. Mid Oct is still not upon us and they have plenty of red to shed before then. Still, don't expect much in Oz.
For what it's worth. Briefing.com's fairytale version. My opinion, but they just covered some shorts.
[BRIEFING.COM] The safe haven appeal of precious metals faded, for the time being, following commentary from Fed Chairman Bernanke which indicated the Fed might once again interject to help the flailing economy. Both gold and silver sold off throughout the session to finish near session lows. Gold prices ended off 2.5% at $1616 per ounce, while silver pries dropped 3.2% to finish at $29.84 per ounce.
Weakness in the dollar, on the heels of the Fed Chairman's commentary, helped crude oil futures recoup overnight losses. They were, however, unable to maintain those gains and quickly pulled back into negative territory and accelerated to the downside heading into the close of pit trade. On the session, crude oil shed 2.5% to end at $75.67 per barrel, its lowest close since late Sept of 2010. Natural gas ended higher by 0.5% at $3.63 per MMBtu.
