Monday, August 10, 2009

Money Issues

The game of money itself is going to take increasing importance.

$75b of Treasury auctions occur this week (3, 10 and 30 yr maturities), Treasury Secretary Geithner will undoubtedly be doing his best song and dance to make sure there are plenty of participants.

China was mixed, although they are being pounded by a big typhoon, Hongkong up quite a bit around 2.5%,and Japan was a solid over 1% gainer.

China could be settling into a double top. They are speculative, gambling spirited, and havent been worked over as badly as the American public.

In my book, any gain or loss under say .8% is "noise".

The US market does not follow the asian or European Bourses, never has. Might some day.

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