Well this last week was disappointing as traders and speculators were eagerly waiting to hear some hope that the Fed would be stepping in with another round of quantitative easing. That did not happen at all, but rather was a quiet Friday in Jackson Hole, WY with everyone grabbing their fly rods and heading to the river as soon as possible after the meeting to catch some trout.
This week looks interesting in terms of news on the table with bond auctions and Friday with Non Farm Payroll here in the USA. September tends to be a volatile month as traders are coming off holiday and the USA is returning from Labor Day and hopefully we start seeing the big money moving markets and we get away from all this congestion/ ranging crap that we've seen for most of August.
I'm looking for Gold to continue to head higher as we've broken a 5 year trendline and if the dollar continues to look bleak we could see some monies move into this safe haven commodity as the Euro zone continues to unravel. I'm very excited to see Stocks become stronger as these types of investments start to look better to the long term investors wanting to hedge risk in the open markets and still yield a higher return. But it wouldn't surprise if we see more manipulation from the Fed to rally the markets in favor of Obama's re-election and try to bring some stability to investors. Even with unemployment at record levels, a economic recession, and inflation on the rise. There is allot on the table with this election, I really hope you get out there and vote for a better America.
Have a great trading week! Keep u posted soon
-david
No comments:
Post a Comment