In our April 28th Global Technicals, we had highlighted the potential for a double top in high yield corporate bonds. In yesterday’s price action, the double top potential was realised as the ETF plunged through its previous trough low. This breakout signals that a collapse in the junk bonds is in the horizon. In other […]
Today’s price action in the Indian currency has put a question mark on the bullish price objective of 41.5-42.0 that we have been maintaining since last year. In today’s trading, the USDINR closed above an intermediate term trend-line (see chart) that had kept the rupee’s strength going. Looking at the Ichimoku charts, the currency has overcome the “cloud” […]
“Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.” – Warren Buffett Here is the Gold’s performance compared to Berkshire Hathway’s […]
A round of flu kept me down the whole of last week and I was not able post any updates on the markets (and this will be a bit brief too). But a more serious attack was on least week – on the Euro. A trillion dollar package to defend the 16 nation currency from […]
Almost entire market action of last week were marked by the events that transpired in Europe (read Greece). These events have benefited the Gold bugs. Gold ended last week at its highest weekly closing level of all time. We have been expecting 1300 and higher for Gold for a while now. Once the all time […]