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- May 17, 2005
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The Dow is making an effort to rise above 10k with a 1% jump today. Gold also took a jump of about 1.5%. Sometimes that's just an indication of the falling value of the dollar making these investments more affordable to foreigners.
[attachment=2:dvekw8l7]Gold&DJI.PNG[/attachment:dvekw8l7]
But, a look at the DXY seems to show that while the dollar did fall, first it rose and it's merely back to where it started from today.
[attachment=1:dvekw8l7]DXY.PNG[/attachment:dvekw8l7]
So where'd the money come from? I dunno but a quick check of the BDI seems to indicate that there is a loss of confidence in the future. The BDI tracks the price of shipping raw materials and that is a look ahead to what manufacturers see as future demand. The BDI had been heading south for a few days and seemed to be turning around - but it's turned around again and started heading once more in the wrong direction.
[attachment=0:dvekw8l7]BDI.PNG[/attachment:dvekw8l7]
So maybe the people that would otherwise be funding production have decided to park their money
The again, the markets may be helped out by the fact that it looks like the PIGS won't be left to die.
[attachment=2:dvekw8l7]Gold&DJI.PNG[/attachment:dvekw8l7]
But, a look at the DXY seems to show that while the dollar did fall, first it rose and it's merely back to where it started from today.
[attachment=1:dvekw8l7]DXY.PNG[/attachment:dvekw8l7]
So where'd the money come from? I dunno but a quick check of the BDI seems to indicate that there is a loss of confidence in the future. The BDI tracks the price of shipping raw materials and that is a look ahead to what manufacturers see as future demand. The BDI had been heading south for a few days and seemed to be turning around - but it's turned around again and started heading once more in the wrong direction.
[attachment=0:dvekw8l7]BDI.PNG[/attachment:dvekw8l7]
So maybe the people that would otherwise be funding production have decided to park their money
The again, the markets may be helped out by the fact that it looks like the PIGS won't be left to die.