Market Anthropology: Greetings From Snowtoberia

Monday, October 31, 2011

Greetings From Snowtoberia

Please bear with me for a day or so as we pick up the pieces from the Snow-i-cane that came through this past weekend. While we are enjoying magnficent weather this Halloween morning, the outlook for power restoration does not look very promising for our area in the coming days. And although my gaggling brood has enjoyed the atmosphere of adventure quite thoroughly – including sleeping by the fire Saturday night – it’s been a little trying on dear old mom and dad. Needless to say, I haven’t had much time to dive in through the layers of the market to give an honest perspective. Throw in a little currency intervention overnight and a dollar that appears to have regained a very important technical support around 76, and it’s a brand new ball game for the bears. I suppose in hindsight its fair play (in love and currency wars…), considering it was intervention last week on the European front that broke the dollar’s technical structure and opened the door to higher highs in the equity markets.

In any case – I’ll be in touch soon.