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Is the Liquidity Lifting the Dow and Gold Sustainable, or a Bubble?
Submitted by Admin on Fri, 10/23/2009 - 08:34
Record liquidity in the markets has temporarily welded the optimism of both bulls and bears in stocks and commodities. TheDow closed at 9712.28, up 15% in the third quarter, the best quarterly performance since 1998, and up 52% from the March bottom. Gold appears to have stabilized above $1,000 per ounce, the highest level since March of 2008 during the Bear Stearns meltdown. There may be a showdown for stocks and commodities, with High Noon rapidly approaching.