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Author Topic: Market Commentary - Feb 02, 2011 - Quiet day for the dollar, gold, and silver  (Read 879 times)
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tamo42
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« on: 2011 Feb 02, 05:12:06 pm »



It was a very quiet day in the markets today. The ADP jobs poll was out, and it appears there has been more hiring than expected. Perhaps more importantly, both the Dow and the S&P held their gains above the big round numbers of 12,000 and 1,300.

Let's look at today's numbers:

US Dollar ETFGold ETFSilverDow 30S&P 500
22.18+0.17%  1304.50-0.27  28.25-0.63%  12,041.97+0.02%  1,304.03-0.27%  

Silver and gold did seem to resume their normal inverse-dollar pattern. This suggests that the panic flight to safety buying is over for now. It would seem that intensifying riots in Egypt have been considered by the market and rejected as not that important to global affairs.

Happy trading!
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Neal McSpadden
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badon
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« Reply #1 on: 2011 Feb 08, 11:10:08 am »

It's funny how everything went nuts right after this post. It really was the calm before the storm. That's why these market commentaries are so interesting. We get an intelligent perspective on what's going on.
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« Reply #2 on: 2011 Feb 08, 11:32:46 am »

Yep, I've been a bit busy the past few days and haven't had a chance to do one of these posts. Over the past few days three major news events happened that has made the markets a lot more interesting! 

I'll post a full commentary tonight.
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« Reply #3 on: 2011 Feb 08, 11:33:41 am »

I'm looking forward to it! Thanks for keeping us informed.
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