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Emerging-market stocks headed for their highest close in 15 months as better-than-expected earnings boosted shares and analysts raised Brazil's economic growth estimate.
Poland's benchmark WIG20 Index gained 3 percent as PKO Bank Polski SA and software developer Asseco Poland SA jumped after third-quarter earnings beat analysts' estimates. Russia's Micex Index increased 3.6 percent as oil climbed.
The MSCI Emerging Markets Index added 2 percent to 981.73 at 10 a.m. in New York. A close at that level would be the highest since Aug. 14, 2008, a month before the collapse of Lehman Brothers Holdings Inc.
Poland's benchmark WIG20 Index gained 3 percent as PKO Bank Polski SA and software developer Asseco Poland SA jumped after third-quarter earnings beat analysts' estimates. Russia's Micex Index increased 3.6 percent as oil climbed.
The MSCI Emerging Markets Index added 2 percent to 981.73 at 10 a.m. in New York. A close at that level would be the highest since Aug. 14, 2008, a month before the collapse of Lehman Brothers Holdings Inc.
- Bloomberg
This is one of the few times in my life I have not had shorts anywhere in the world, says commodities guru Jim Rogers.
"I have kept away from shorts because there is a gigantic amount of money being printed and it has to go somewhere... I thought some of it would end up in the stock market, and it has," he told the Pragmatic Capitalist Web site.
Rogers, who has chosen to restrain his long positions to commodities and currencies, isn't buying stocks at all, simply because he doesn't like to buy when shares have been "going straight up for a while."
He refuses to speculate on how much higher equity markets will rise.
"There are a lot of problems in the economy, but I don't know when those problems will cause a downdraft in the stock market," Rogers says.
"I have kept away from shorts because there is a gigantic amount of money being printed and it has to go somewhere... I thought some of it would end up in the stock market, and it has," he told the Pragmatic Capitalist Web site.
Rogers, who has chosen to restrain his long positions to commodities and currencies, isn't buying stocks at all, simply because he doesn't like to buy when shares have been "going straight up for a while."
He refuses to speculate on how much higher equity markets will rise.
"There are a lot of problems in the economy, but I don't know when those problems will cause a downdraft in the stock market," Rogers says.
- Newsmax
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The World's Biggest Players Are Buying Gold
By Jeff Clark Monday, November 16, 2009 The World's Biggest Players Are Buying Gold -
Why You Should Cheer the Most Hated Company in America
By Dan Ferris Saturday, November 14, 2009 Why You Should Cheer the Most Hated Company in America -
Is It a Gold Bull Market or a Dollar Bear Market?
By Dr. Steve Sjuggerud Friday, November 13, 2009 Is It a Gold Bull Market or a Dollar Bear Market? -
The Ultimate Gold Bubble Test
By Brian Hunt Thursday, November 12, 2009 The Ultimate Gold Bubble Test -
Don't Fool Yourself: America Is "Now a Communist Nation"
By Porter Stansberry Wednesday, November 11, 2009 Don't Fool Yourself: America Is "Now a Communist Nation"
What Bull? Dow Is Down 83% in Terms of Gold
By Dr. Steve SjuggerudTuesday, November 17, 2009
"I had no idea how bad it was," my friend Richard Smith told me after crunching the numbers...
Richard (founder of the excellent TradeStops) should know about crunching numbers... He has a Ph.D. in "mathematical systems theory." I'm not sure what that Ph.D. actually means, but I do know Richard is able to take a massive pile of numbers and find a simple way to tell me what they mean. Here's his simple conclusion:
Sure, the man on the street feels good when he sees stock prices are up, gold is up, oil is up, etc. It feels like things are getting better. But it's not the truth...
The truth is the value of the dollar is going down fast. People want to believe differently. They want to believe the creation of money at a record pace by our government is creating wealth. But you don't create wealth on a printing press.
The government's simple goal was to reignite the U.S. real estate market. If you cut rates to zero and make money available, home prices can't fall any more – or so the government thought. The government didn't realize the low rates and money "printing" would lead to higher prices in everything BUT real estate.
A few years ago (summer of 2005), you would have needed 550 ounces of gold to buy an average house. Today, you need more like 150 ounces of gold. That is a 73% decline in the "value" of real estate.
You'll hear on the evening news that home prices are down by, say, one-third nationwide. But on TV, they never account for the destruction in the dollar. In terms of gold, home prices are down by more than 70%... Wow!
Yes, it takes more dollars to buy gold, oil, and the stock market lately. But don't kid yourself... Don't feel better... You are not any richer. The dollar is just dramatically weaker.
Sizing things up in terms of gold is one clear way to see it.
Good investing,
Steve
Richard (founder of the excellent TradeStops) should know about crunching numbers... He has a Ph.D. in "mathematical systems theory." I'm not sure what that Ph.D. actually means, but I do know Richard is able to take a massive pile of numbers and find a simple way to tell me what they mean. Here's his simple conclusion:
The entire rally in the DJIA from 2003 to the peak in 2008 was actually a continuous decline when priced in gold... Even the super-rally in stocks over the last six months is nothing more than a very weak bounce off the bottom.The simplest way to ask the big question is like this: How many ounces of gold does it take to buy the Dow Jones Industrial Average (DJIA)? Richard answers:
From a peak of nearly 42 ounces of gold to buy a share of the DJIA earlier this decade, we made it down to a low of almost seven ounces in March 2009. That is a decline in the "value" of the DJIA of 83%.The implications are scary...
Sure, the man on the street feels good when he sees stock prices are up, gold is up, oil is up, etc. It feels like things are getting better. But it's not the truth...
The truth is the value of the dollar is going down fast. People want to believe differently. They want to believe the creation of money at a record pace by our government is creating wealth. But you don't create wealth on a printing press.
The government's simple goal was to reignite the U.S. real estate market. If you cut rates to zero and make money available, home prices can't fall any more – or so the government thought. The government didn't realize the low rates and money "printing" would lead to higher prices in everything BUT real estate.
A few years ago (summer of 2005), you would have needed 550 ounces of gold to buy an average house. Today, you need more like 150 ounces of gold. That is a 73% decline in the "value" of real estate.
You'll hear on the evening news that home prices are down by, say, one-third nationwide. But on TV, they never account for the destruction in the dollar. In terms of gold, home prices are down by more than 70%... Wow!
Yes, it takes more dollars to buy gold, oil, and the stock market lately. But don't kid yourself... Don't feel better... You are not any richer. The dollar is just dramatically weaker.
Sizing things up in terms of gold is one clear way to see it.
Good investing,
Steve
A PICTURE OF THE ECONOMIC REBOUND
Score a victory for folks bullish on the global economy...
For a picture of this victory, we go to the past two years of action in the Baltic Dry Index. As we mentioned last month, the "BDI" is one of our favorite real world barometers of what's going on. It's the most widely followed gauge of the price it costs to ship raw materials like grain, coal, and iron ore.
The BDI fell 94% in just six months last year as credit – the oil of commerce – was drained from the global economic engine. It's the worst crash we've ever seen an index suffer. But like all economic indicators, the BDI is in rally mode right now...
After striking a bottom below 1,000 last December, the BDI rallied to 4,000 by June. It then corrected to almost 2,000 in September. But as you can see from today's chart, the BDI is set to reach a new 12-month high this week. As long as this index remains healthy, we have to say, "The economy ain't so bad..."
