AM 1150 Kelowna - Radio Rallies & Reversals
First of all, for you soccer fans who own an iPhone, World Cup actions kicks off in two days, and I've found a great application to help you stay on top of the action. Check out '2010 World Cup South Africa' on iTunes. By the way, as a disclosure, we do own Apple stock in our clients' portfolios.
Turning to the capital markets, it looks like the positive momentum from yesterdays close is carrying into this mornings open, as North American stock indices have opened nicely to the upside, with strength across most sectors with the exception of gold. Gold reached an all time high of 1254.50 earlier this week as investors looked for safety. Should this trend continue, $1300 in the near term is possible, but don't forget what I said yesterday about the 10yr bond indicator. From January to May, the 10yr yield in Canada and the U. S. has trended down, and according to S&P data, stocks have moved higher when this happens from May to October, 14 out of 15 time from 1965 to 2007.
GB
Turning to the capital markets, it looks like the positive momentum from yesterdays close is carrying into this mornings open, as North American stock indices have opened nicely to the upside, with strength across most sectors with the exception of gold. Gold reached an all time high of 1254.50 earlier this week as investors looked for safety. Should this trend continue, $1300 in the near term is possible, but don't forget what I said yesterday about the 10yr bond indicator. From January to May, the 10yr yield in Canada and the U. S. has trended down, and according to S&P data, stocks have moved higher when this happens from May to October, 14 out of 15 time from 1965 to 2007.
GB
Labels: The First Hour
posted by Gordon Bell at
7:23 AM
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