Wrong for everybody except private equity managers, hedge fund partners, bankers and other wall streeters, that is...
- Jeff Matthews plays a game of Jeapordy that Ben Bernake would lose.
- Mish sees this as part of an overall move by governments around the world to try to enforce "stablity," (eg, protect the powerful) even if it means manipulation of markets and everything else, in a manner that only guarantees more instability over the long haul.
- Kevin Depew's "Five Things" today is right on the money, as usual. As Toddo always notes, it's the best read on the street.
- Barry Ritholz points out the possibility of a "nuclear winter" for the dollar, something I've been worried about for some time.
In the real world, my small positions in metals and materials more than made up for losses elsewhere today. GoldenStar (AMEX:GSS) led the pack, up 15% on the day. Central Fund of Canada (AMEX:CEF), which mostly holds silver and gold, has also finally regained some traction. I continue to hold, as I don't believe this move is over and is punctuated by a silver breakoutabove both its 200DMA and the recent downtrend line.
Quint Tatro on Minyanville thinks the Silver ETF (AMEX:SLV) is buyable here and worthy of building a long-term position.
-btc
