Today is the second of my days off this week. I was given Monday and Tuesday off, having worked the previous 5 days in a row. Shift work in the hospital has its ups and downs - having days off on normal working days is good for things like stock trading, banking and other stuff that you normally could not do if you were working that day. It also means, sadly, that my days off often do not coincide with those of my friends. Ohwell. At least my girlfriend, having a day off, came up to visit me today. :-) -- I bought her a bunch of roses, a late Valentine's Day present.
In other, unrelated news - Alex's financial news and prediction for the day:
The bear market in U.S. technology and internet stocks continues with what appears to be a bear market rally currently taking place. Beware resistance points for a resumption of the bear market.
Gold lease rates were up strongly again for the 3rd (4th?) day in a row today, more so on the short term side with the 1 month lease rates going up to 3.9% today, leading to a yield curve inversion, where short term rates are now higher than long term rates. This abnormal turn of events portends something about to happen in the gold market. Smells a lot like what happened before the October 1999 rally in the price of gold. hmm...
Will Alan Greenspan cut rates again? I wouldn't want to be in his shoes right now -- talk about being between the devil and the deep blue sea ... he's got to balance the market expectation for lower rates to keep the stock market happy and the increasingly obvious signs of inflation popping up. That's a toughie.
Recommendation: Buy gold stocks, sell tech.