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Honesty is the Best Policy

Daily Recap

Oil just cannot catch a break - seriously. Down again most of the day, it traded below $30/bbl. for a short time before rallying back to down "only" 80 cents a barrel. This marks the 7th day out of 7 trading days that oil finished lower. Hint: this is not a great record.

 

Stocks are still nervous, finishing mostly lower in Asia as the Chinese struggle to support their currency. European exchanges managed their first plus day in four days. In the US, we traded strongly higher, then lower, and look to finish higher, with the Dow up 115 points just before the close.

 

Gold is down again today, with the mining shares down even more. The miners' index XAU registered new 52-week lows. This is troubling, and connects directly to comments you'll read below. 

 

All in all, world markets of every stripe are nervous and volatile. Don't look for that to change anytime ... Log in or subscribe to continue reading.


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