Keep in mind there wasn't one pullback throughout the entire day, the market has risen straight up since the opening.
Is there a rule somewhere that markets have to have a pullback intraday? I don't understand your point. I've seen days like this for 20 years, and only that long because that's as long as i've been paying attention.
*OIL 82.82 +1.35 +1.66% *GOLD 1340.40 +25.00 +1.90% At this rate oil will be over $100 by the end of October and Gold over $1500.
Nice consistent picture so far. National election coming up, dollar falling, market rising, commodities rising. Exactly what I expected (one of the rare times). There will be plenty of time for a crappy do nothing market after the election.
agree, but the one bad thing is crude which broke resistance. theres a whole month for gas prices to start going up and we all know how the media loves the high gas price story.
Just a guess of course, but I doubt we see much effect of higher crude prices at the gas pump until after the election. There is a little lag, and we only have about 4 weeks to go until November 2nd, election day.
If you look at Fed and Treasury policy and the huge deficits both in the previous and the current administration coupled with a deep recession you really have to expect a weaker dollar. That's one of the reasons we loaded up on commodities: we knew there would be a weaker dollar and inflation at some point down the road, maybe far down the road, but eventually it is as certain as anything can be. I chuckle when I think of all those folks posting post after post absolutely convinced that we were headed for a disastrous deflation, just because there is 20% unemployment. If we were still on the gold standard maybe. But we're not.