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As Richard used to say, the Bear is angry at having been denied and ignored, and is lashing out today. It's mostly the same old story: Oil is lower, under $27 today, partly on Iran's new ability to supply crude to the market.

 

European stocks were slammed again today, down over 3%, led again by the mining shares. US stocks were down 500 Dow points earlier, but have regained some during the day. Near the close, the Industrials are down 150 points, with much lesser losses in tech stocks and the NASDAQ.

 

Gold is once again one of the few positive items, up $15 on safe haven buying. Even the mining shares are trading markedly higher towards the close, after opening lower and following yesterday's scary drop. 

 

Treasuries are another beneficiary, with lower yields there reflecting a flight to safety. The dollar hit 1-year lows vs. the yen, but otherwise is mixed against ... Log in or subscribe to continue reading.


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