So c'mon, who amongst you thought it was a joke when I wrote this morning, "Gold shot up $16 on the (unemployment) news. You'd better sell that spike, cos in the Pachakuti that you guys live in 6.1% unemployment will be seen as dollar bullish."? I promise you I actually burst out laughing when the USD went positive on the day. You guys live in Kafkaworld, and today confirms it. You do realize there will be talking head experts on CNBC later explaining the logic behind the dollar's move, and they might even believe their own explanations, too.Shall we dwell on the mining carnage again? Nah, you just name your own fave "5% down miner"...plenty to choose from. However I'd say that this chart is pretty important right now:
(click to enlarge)Dr Copper has to decide whether it wants to break a three year trend right here and right now. Monday will probably decide the issue. I'll bet money that line in the sand holds again.
Very strong volumes in FCX, both yesterday and today. This was the level it reversed from last month. Check the chart and be the judge.
MELI bounced, up 9% and sits close to $29. If I were good enough I'd just play this rollercoaster the rest of my trading life and make tons'o'munney. Unfortunately I suck at trading it and don't try to be clever about it.
With 10 minutes to the bell, dare I mention Vena (VEM.to) is up again (though volumes low)? It's one of the very few green splodges on the screen right now, that's for sure.