posted on
Dec 15, 2010 05:30PM
Most of my stocks are also in the red. I have not checked lately but of all that I keep an eye on I think only one was green well before market closing - BNK ( oil).
Most commodities are down as with precious metals due to a temporary recovery of US dollar. Nothing good about US$ except hype. What is bad about it continues to be so - ever rising debt.
What boosted the US dollar is a reaction to the Euro which is down because Germany refuses to support remaining weak Euro member's debts such as Spain's ( one of the PIIGS ). So With Euro down the US dollar gets a boost and everything priced in it goes down ( almost everything ).
But chear up, the green back is too deeply in debt to be saved by a one or two day slightly upward rise ( rumours of less quantitative easing provides a temporaty boost). Things will return to status quo just about any day, probably tomorrow.
US $ must be still on a downward trend.
This has been a commentary from the peanut gallery so take it with a good dose of salt.