The Last Straw For A Rally Is...
... OIL and GOLD!
With soooo many reasons for a rally to start, the market action over the past few days told me that oil and gold are the final straw needed for the rally to really explode. Smart money are already moving from bonds into the equities market, providing the amazing support we have seen over the past few weeks and the market is just waiting for the stupid money to move back from oil and gold as well. When oil retreated about 7% and gold retreated about 9% last week, the stock market was up about 5%! But when oil and gold rebounded these few days, stock market was down again. So, it is clear what is going on and what is the last straw holding the bulls down. I hope all oil and gold traders think twice before moving into such historical highs anymore.
With soooo many reasons for a rally to start, the market action over the past few days told me that oil and gold are the final straw needed for the rally to really explode. Smart money are already moving from bonds into the equities market, providing the amazing support we have seen over the past few weeks and the market is just waiting for the stupid money to move back from oil and gold as well. When oil retreated about 7% and gold retreated about 9% last week, the stock market was up about 5%! But when oil and gold rebounded these few days, stock market was down again. So, it is clear what is going on and what is the last straw holding the bulls down. I hope all oil and gold traders think twice before moving into such historical highs anymore.
posted by Jason Ng at 4:45 PM
1 Comments:
Just a not to say I appreciate your analysis and insights into the trading market,
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