SOME QUICK THOUGHTS
- The limit down move in many commodities today doesn't bode well for the general markets. Like it or not, all these asset classes have been feeding off each other during this rally. Extreme weakness in one asset class, means that much less of a chance of recovery in another weak sector i.e. stocks.
- S&P 500 has taken out multiple days of gains in one shot so far today. This is standard behavior during a correction, as they are always violent, scary affairs. Friday's high now becomes a major point of interest for bulls and bears.
- I could just imagine the number of fish that are jumping aboard the gold train given the tensions in the Middle East. I would advise said fish to be careful, as they are surrounded by hooks and may find that they are flopping around at the bottom of a boat before they get a chance to know what hit them.
