- The market appears to be taking a bit of a breather as we await the Friday jobs data.
- The route in Hong Kong continued last night as the market traded down 1.8%. That slide has to end before global markets can stabilize.
- Gold has been making a stealth move higher (currently 2% higher). Is this a return of the fear trade, a return of the inflation trade or a bit of both? Either way, it looks like John Paulson wins again….
- Since when did we allow our markets to be dominated by a $4 stock (I know AIG is “$40” now, but don’t let that reverse stock split fool you)?
- Speaking of AIG, did that reverse stock split actually create the psychological catapult that the company was hoping for?
- Volume is relatively heavy again today even though the market is flat. Downside volume is dominating the action again at 2:1. Weekly breadth figures have turned decisively negative. There is no longer any leadership in the rally. Look out below….
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.