Simply Stunning

Sorry to be writing so late today, I woke up this morning just before 6 and was just so busy all day. While I was compelled to write, I was curious to see how the day would finish out! I have said it before, that nothing surprises me anymore with these markets however the one market that did surprise me today was the US equity markets, that selloff was indeed impressive. I honestly thought we were going to have an upside reversal a usual in stocks but the selling was just too much. Is this the start of what I have been waiting for?

Can the bulls save themselves, it will be an interesting Friday to say the least. Now let's take a look at the US 30 Year Bond, if they break below 135, we just may see the end of this low rate environment!

Even with stocks imploding and Gold getting pummeled, Bonds could find no flight to safety! What about Gold? OUCH and at the end of the day, margins have been raised from $7000 to $8800, this has led to more selling into Asian trade reaching $1268 earlier on. Yes I have been expecting the shorts in the Gold market to have their faces ripped off with one heck of a short covering rally but I am still waiting. I had mentioned $1250 earlier this week, maybe we will see that hit overnight. If not I have no interest until we can get back above at least $1320! Tomorrow ends the week and I am pretty sure the markets will still be here next week, point being-DON'T try being a hero. If you have played smart, your opportunity is only getting bigger.

Sorry but I have no comments on the currency markets today and I promise to get into them over the weekend. Until then, hope you all have a safe Friday.

Good Night
Martin