There`s not much else to report as per price movements. Price retracements are taking their time and seem to be meandering up to drag as many into particpation as absolutely possible. The beginning of major downtrends always take a while to play out and continue to accelerate into the latter stages as pessimism becomes the majority opinion.
We are obviously not even close to that point right now in any form of investment. With the major indexes yielding near historic lows and valuations much higher than historically average, as well as fear of inflation keeping money committed to paper gains (for now), time is ideal for a major shakeout of generational mentality towards investment. Consumer Confidence is pounded down on the `current situation`survey, but still very elevated on the `future expecations`- and this is exactly the type of mentality driving investments right now. There is no wall of worry here, but hope that fuels this little engine that (did).
The Euro should make a sizeable correction against the USD in the coming week or two, just to shake some of this mass of short speculators off the trade. This should temporarily keep the price of precious metals and stocks at current levels or slightly above before a resumption of the bear market.
``Gold Breaks the Rules`` was the title of a front-page Yahoo! Finance article over the weekend and yesterday.
Keep your head out there
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