yes, SPX ever inching up in a elevated crane. closed at 1308. The final surge should come on Friday, option expiry.
I never believe 8 points from a major round number like 1300 constitute a top. IT has to move closer into 1330 to 1350 for a major top.
Meanwhile HSI going to touch 20,000, a target so elusive for most part of 2011. And when the Rabbit Year last trading day is coming on 20 Jan, it finally goes there. Now HSI at 19912.
Gold challenging 1666 again in Asia morning.
No hurry.
National Association of US Investment Companies reported 1,4b of equity inflows in January 2012. total 11b flowing to Bond and Equity. So Bond flow still quite substantial.
Estimated Flows to Long-Term Mutual Funds Millions of dollars
12/14/2011 12/21/2011 12/28/2011 1/4/2012 1/11/2012
Total Equity -5,917 -4,690 -5,085 -9,365 1,434
Domestic -4,229 -2,807 -4,111 -7,079 753
Foreign -1,689 -1,883 -974 -2,285 681
Hybrid 752 172 460 454 1,951
Total Bond 5,545 2,272 2,073 3,298 7,868
Taxable 4,684 1,090 1,079 2,120 6,124
Municipal 861 1,182 994 1,178 1,744
Total 380 -2,246 -2552 -5,613 11,253
Euro making a dash for 1.2800.
Nowadays a lot of retails are operating robot trading, sign up for a personal account, set the algo, and let the program takes over. E.g. trade at every MACD or Stochastics crosses. So they accumulate tiny profits. With trailing stops. In this trending SPX, most accounts are showing up handsome profits.
Watching Gold at 1666, Silver at 30.5.
My view is that China GDP would inch towards 8.1 in the next few quarters, when China is manoevring a soft-landing.
Latest in: Greek bondholders now refusing the haircut.
Now Iran Homuz block is neber heard of, Israel attack on Iran also fizzles out. Smoke Screen. It is going to be hell of a bull trap for those who buy on war drum-beat. Massacre of the Gold Bugs coming.
I always revert back to watching this video. See how it moves from a spectator watch to a stampede.
Update
--------
News has it that Iran is ready to talk again.
Iran is pressed when all its customers are now talking to Saudi Arabia to secure supplies.
Talk or no talk, when Iran contracts expire with customers, they are not going to renew. Hence in other words, the world oil supply has artificially cut by 30%. And OPEC, Russia, etc would be pushing up oil prices in response. So we are going to enter into a summer of high oil prices oscillating between 100 to 120.
World governments would be deliberately slowing down their engines to buffer any high energy prices.
Am waiting for my Hong Kong stock to hit target for my Red Packet.
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