[SITREP] Relief Rally Fades; Gold Catches a Bid
By: Matthew Whiz Buckley
In today’s Market Situation Report, Matthew ‘Whiz’ Buckley discusses the Fed’s relief rally running out of steam and Gold catching a bid. “The tide’s going to be turning on GLD,” says ‘Whiz,’ “and I’m starting to get bullish again, just because it’s so over sold.”
He also discusses china’s local debt, the weakness in earnings from heavy machinery and rail with Caterpillar (CAT) and (CSX), the international transportation company, plus issues with Bank of America (BAC) whose mortgage origination has lacked growth.
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