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Abbott Laboratories Message Board

  • snugly60031 snugly60031 Feb 1, 2006 12:06 AM Flag

    Market Much Lower By Friday Close

    IMO the ripple effect of the GOOG miss will seriously impact the Nasdaq especially. I believe this and the fact that there has been no meaningful correction since advance began in October will result in lower prices over next few days.

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    • Not done yet. IMO lowest Nasdaq low of the week on Friday. Probably Dow too, but I'm less confident of that prediction.

    • Snug

      With Ben at the helm of the FRB, it will create more uncertainty in the coming months. One of the reason there is a run on gold is that Jean-Claude Trichet is printing beaucoup euros and preventing the dollar to take off. Take a look at the EU M1 figures and you will quickly be convinced. Consequently, most if not all central banks have ceased selling their bullion reserves. That fact in itself explains the run on gold as the supply is getting squeezed. Nothing to do with inflation, when interest rates go up the price of gold should come down as a lot of the metals are bought on margin, i.e. on borrowed money, with a 10% down requirement vs. 50% for stocks. The gold price is completely estranged from any other economic factor, it is simply a matter of offer and demand that is not in balance for the time being. You must keep in mind that little gold is getting consumed, and I am including jewelry here. I have somewhere a 24 carat gold chain bought in HK years ago, it weights 2 oz and I paid $246 for it, or $123 an oz. I have no use for it and will gladly sell it when the bullion hits $1K and will probably get a small premium for it being a chain instead of two coins. In HK there was no premium fer sherr. Phy will sell some of his gold reserves also and supply will again meet demand. It will then exceed demand at some point and the spot price will come down much faster than it went up, it's always that way.

      Is there anything else I can help you et al. understand, this is the time to ask.

      BTW, did you see the new FOX babe going by name of Terry Keenan?

      Always buy low! Kiki

      • 2 Replies to keekefretter
      • Kiki,
        Terry has been around for a long time. Years ago she was with Lou Dobbs at CNN. She was a real honey then! Later, she did some time at CNBC, but seemed to be awkward in her presentations. She either was fired or just went back to CNN for a while. I believe she has been at FOX now for a couple of years. I followed her moves through the networks, because I thought she was beautiful and liked watching her. She is still very pretty, but she has gotten a little fat.
        Thanks for the AU tutorial. Snug

      • Kiki, Terry Keenan? Hasn't she been around a long time on CNN? I think she is or was married to some guy on one of the networks. If China or India ever decide to debase their currencies by eliminating exchange controls, gold will drop hard. In the meantime, all is well.haj

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