Gary Gordon submits: Conventional commentary on Wednesday, 7/6/2011, described the trading as light and lackluster. Yet S&P SPDR Gold (GLD) climbed back above a critical trendline, PowerShares Developed Market Ex US (PXF) experienced 30x the normal trading volume and iShares DJ Transports (IYT) notched a new 52-week high.
Beginning with the yellow metal, some surmised that the ?risk-on? trade would result in a downtrend for S&P SPDR Gold (GLD). After all, GLD had risen a staggering 20% between the three months of late January and late April. Moreover, the share price had remained above a 50-day moving average for four months before succumbing in late June.
The ?downtrend? didn?t last very long, though. On 7/6/2011, GLD rose back above its 50-day to close a mere -2.2% from all-time highs.
Click to enlarge
In spite of the euro losing ground to world currencies, in spite of a downgrade on Portuguese debt, not everyone is
Complete Story »
UNISYS TRIQUINT SEMICONDUCTOR TRIMBLE NAVIGATION LIMITED TRIDENT MICROSYSTEMS TRANSACTION SYSTEMS ARCHITECTS
No comments:
Post a Comment