Here's the setup I see: Bernanke confirmation senate panel vote Dec 17th.
Bernanke goes to full senate after Jan 1 '10
DOW and S&P (incorrectly) seen as proxies for economic health, are up for the year and up a lot from their lows
Gold is off its high
I say people go into the holidays with the situation pretty much the way it is. No real need to debase the dollar anymore right now to juice equity markets. The MS can be counted on to repeatedly state that gold has lost its luster. Bernanke and Wall Street can hold the senate hostage and show their power. Short trading weeks coming up with historically low volume; thin markets present magnificent opportunities for market hanky-panky.
Stocks up lightly into the end of the year, gold down or sideways.
Unless Dubai blows up UK banking, in which case UK gets ring-fenced and looks like a remake of "Oliver Twist".
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Here's the setup I see:
Dec 8 09:16 PM
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All Comments by SW Richmond »Has Gold Lost Its Luster? [View article]
Bernanke confirmation senate panel vote Dec 17th.
Bernanke goes to full senate after Jan 1 '10
DOW and S&P (incorrectly) seen as proxies for economic health, are up for the year and up a lot from their lows
Gold is off its high
I say people go into the holidays with the situation pretty much the way it is. No real need to debase the dollar anymore right now to juice equity markets. The MS can be counted on to repeatedly state that gold has lost its luster. Bernanke and Wall Street can hold the senate hostage and show their power. Short trading weeks coming up with historically low volume; thin markets present magnificent opportunities for market hanky-panky.
Stocks up lightly into the end of the year, gold down or sideways.
Unless Dubai blows up UK banking, in which case UK gets ring-fenced and looks like a remake of "Oliver Twist".