Market action is all over the place this morning continuing the feeling by many that there is very little consistency to the markets.
10 year Treasury yields opened up over 3% and are now in negative territory.
Crude oil was up over 5% but now that too is in negative territory.
Gold is up almost 4% but it is running into resistance levels at $800. Gold has carved out a range between $750 and $800.
Equities are up and holding onto their gains but even here the action is inconsistent as small and mid -caps stocks far outpace large caps.
Foreign developed and emerging markets are strong.
Large intra -day price swings favor the short term trader, but does little for the trend follower who requires a little less volatility. Hang in there as this too will pass.
Wednesday, December 10, 2008
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