Wednesday, June 15, 2011

Pandora's box

6:37 am (Hawaii) My Regular watch list is 15% green, 83% red. What a mess. The leaders are bearish ETFs (FAZ, TVIX, QID, TZA) along with TLT. Violence, Greece, video. And it's only Wednesday. 

Fast Money Halftime noting that Pandora's IPO today comes when Greece is riled up. 

6:54 am (Hawaii) Input from Dennis Gartman on FM Halftime:
"You do have money going into gold, but in non-US dollar terms. It's going into gold in sterling terms, yen terms, not US dollars at all. The circumstances in Greece help gold. It creates a different type of gold investment. (It's going) higher. The best that one can do is get the trend right. ($5,000) is absurd. I see gold at $1,650. Stock prices look weak, a global economic slowdown is taking place. I'm not sure we'll have a recession, but look at what copper is doing. (China) is just one-time data. On balance, purchasing data in the US and (globally) are all turning down."

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