A happy Tuesday to all with yesterday's profit taking ending up as yet another distribution day for both the S&P and the NASDAQ (count now at NASDAQ 7 and S&P 6). Precious metals lept back up over their psychological pegs to trade at $1,203.95 and $16.46 for gold'n'silver. Right now (2-1/2 hrs before opening) stock index futures are falling to -0.34% and metals are seen easing back up --now 'only' -0.47%. Reports this morning: Case-Shiller home prices and Consumer confidence. Neat threads--
- How Much Does OPEC Really Earn?
- Economic activity in Texas is still plunging
- ‘Accords with China a hallmark in Argentina's foreign relations history’
- Scott Walker Versus the Wall St. Journal on Immigration
-and other morning reading:
- The Surprising Rebirth of Manufacturing - James Surowiecki, New Yorker
- What Behavioral Econ. Says About Great Recession - Jon Hartley, Forbes
- QE Logically Didn't Cause 'Hyperinflation' - John Tamny, RealClearMarket
- U.S. Not Miserable Enough for the Bull to End - Michael Regan, Bloomberg
- Most Overbought, Overleveraged Market Ever - StreetTalk Live
- Don't Get Fooled By The Gold Rally - Myra Saefong, MarketWatch