Today was all about long forgotten (at least in modern investment time frames) energy and precious metals market. China made a statement that it was shifting some of its reserves from the dollar to gold and oil. This is not such a big shock but it's curious that it came after the U.S. election. (Do you think Paulson's recent trip to China had something to do with that timing?)
Looking around at other markets, not everything took a hit today.
Of course there are many more markets to discuss as the week winds down. One thought to leave you with is contemplating much discussed market manipulation. Many cynics (you know who you are) have felt that the Treasury and Fed have been pushing markets higher by injecting liquidity in advance of the election to make things look good for republicans. Now that the Dem's are "in," does that mean they'll stop these activities? That's something to think about over the weekend.
Disclaimer: The ETF Digest maintains positions in: streetTRACKS Gold Trust ETF (NYSEARCA:GLD), Central Fund of Canada (NYSEMKT:CEF), iShares Lehman 7-10 Yr Treasury Bond ETF (NYSEARCA:IEF), iShares NASDAQ Biotechnology Index ETF (NASDAQ:IBB), iShares FTSE/Xinhua China 25 Index (NYSEARCA:FXI), iShares MSCI Emerging Markets ETF (NYSEARCA:EEM), iShares MSCI Spain Index ETF (NYSEARCA:EWP), iShares MSCI Canada Index ETF (NYSEARCA:EWC), iShares S&P Europe 350 Index (NYSEARCA:IEV), and iShares MSCI Malaysia Index (NYSEARCA:EWM).