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Nominal neutrality


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w?s=%5EAORD

 

 

While riffling through the charts last night I noticed a small megaphone top forming on the All Ords daily chart and today it played out true to form. All Ords went into nasty slide closing -1.6% taking all sectors well into the red. Gold -2.5% headed the list followed by Materials -2.2% and Miners -2.1%. Consumer Discretionary fell the least, -1%.

 

Pretty much the same story in Asia except for China, currently +0.4%. Of the others, Nikkers -1.9%, Honkers -0.5% and India -1%.

 

 

On to UK/Europe:

 

 

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Hey fellow Stoolies,

 

check this:

http://www.investors...ves-a-hero.aspx

 

its about FED, PD, UST, etc and future.

 

Doc, whats your view about this long art? agree / disagree?

 

No time for reading. I get his emails but normally just look at the titles. Did scan the charts. Look a lot like mine.

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Sign of the times.

 

Greece raised 1.17 billion euros ($1.63 billion) Tuesday in a sale of 26-week treasury bills that was both oversubscribed and saw a drop in borrowing costs.

 

The sale, originally for 900 million euros, received bids worth 4.22 times the total and resulted in a yield of 4.54 percent — - down from the 4.82 percent for a similar auction on Sept. 14,

 

http://www.nytimes.com/2010/10/13/business/global/13euro.html?_r=1&hpw

 

Just the other day was a story about how they may need help with and forbearance paying back the bailout. Germany groused, the IMF said no sweat. Where the rubber meets the road however, borrowing to pay old debt, no sweat. Supporting Greek bill sales would be a rounding error for the Fed or ECB, just saying. There is obviously no way Greece is going to even get close to net paydown of their debt for years.

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