Tuesday, 7/23, Market WrapUp (Things vs. Paper)

FinancialSense.com ^ | 07/23/2002 | by Jim Puplava

[Unknown Freeper]

Laz bump

[Lazamataz]

Market WrapUp is delivered...

[dennisw]

Market WrapUp (Things vs. Paper)

_______________________

Yeah just wait untill that *thing* known as housing gets it's bubble pricked. Katey bar the door!!!

[Cool Guy]

BUMP!

[headsonpikes]

At least you are no longer alone in being 'pantsless'...

...or shirtless or shoeless..;^)

[RightWhale]

Does gold count as things? Gold took a little hit today; the gold index took a big hit.

[DarkWaters]

Housing and derivatives. This will not be fun to watch.

[AdamSelene235]

Yeah just wait untill that *thing* known as housing gets it's bubble pricked. Katey bar the door!!!

Uh oh ! Usually I'm alone in my paranoid delusions. Stop agreeing with me, its freaking me out.

Big Scary Monsters

'Fannie and Freddie Were Lenders': U.S. Real Estate Bubble Nears Its End

Fannie Mae Enron

[StockAyatollah]

Re the gold slump today: Sounds like a damned good buying opportunity to me.

[AdamSelene235]

Re the gold slump today: Sounds like a damned good buying opportunity to me.

Seems like fiat would be better than gold in a deflationary environment?

[RightWhale]

The $EU dropped a couple cents also. What is going on?

[headsonpikes]

"Seems like fiat would be better than gold in a deflationary environment?"

In a calm, gentle, predictable textbook deflationary environment, yes, I think so.

But in a volatile geopolitical environment, with sundry currencies and political regimes in chaotic freefall, gold will probably be easier on the nerves than paper, and will probably be more likely to reward the patient holder, as well.

All IMHO. ;^)

[razorback-bert]

'Excessive valuations': Franklin Templeton equity guru says two more years of pain
 
Mark Mobius, the Franklin Templeton fund manager and emerging markets specialist, predicts the bear market is here to stay for another two years because valuations remain "out of whack" and investors have yet to reach the point of "disgusted selling."
 
"It's a bear market that's not going away anytime soon," said Mr. Mobius, the Singapore-based manager of the company's Emerging Markets fund and one of the industry's heavy hitters. He was in Toronto yesterday for the annual meeting of the Templeton Growth Fund, one of the benchmark products of the Franklin Templeton Investments family of products.
 
"People are not willing to face the fact that valuations are excessive from a historical point of view, which they are," Mr. Mobius said during an interview with the Financial Post. "You have to reach the point of disgusted selling, and we haven't reached that yet. When you reach that, then you will see the bottom form. But I don't think we are there yet. There's still too much hope out there."

[AdamSelene235]

But in a volatile geopolitical environment, with sundry currencies and political regimes in chaotic freefall, gold will probably be easier on the nerves than paper, and will probably be more likely to reward the patient holder, as well.

And you were ribbing me over my rose colored glasses.

My plan A. is shorts & companies likely to benefit in deflation.

Plan B. is fiat

C. is gold

D. is 7.62 mm

I prolly shouldn't talk about plans E-Z in a public forum.

[DeaconBenjamin]

A review of how the major European markets have performed (even compared to the Dow) would likely answer your question.

[headsonpikes]

There is no E-Z way, I'm thinking. ;^)

Honesty becomes not the best policy, but the only policy, at certain points. This may become one of those points in time.

Folks are going to be some choked by the time the dust settles; they may be ready for free enterprise, once again.

[RudeJude]

bump

[Dukie]

Congratulations on your new guest host duties, Laz.

[arete]

Gold took a little hit today

Somebody somewhere needed to raise cash.

You couldn't help buy take note of the overnight move to push the market up today. Futures were strong by 6:00 am ET and the market popped for 100 points on the DOW. PPT or foreign hedge fund? Who knows, but there are rumors -- lot'sa rumors floating around. Those who know, aren't talking.

Anyway, from 100 up to 80 down is a considerable drop again. The manipulation didn't work or the player didn't have enough support to keep it going. We might explain it as simply gold being sold to buy dollars, but I have a feeling that this is a move that didn't work out as planned and someone took a hard hit.

I have a bad feeling about tomorrow because of todays failed rally and the investigation of JPM and C. It could get ugly. . . but that's just my opinion.

Richard W.