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Hi from Moscow, Russia.
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From the last month the economists and financial
analysts
prognose earnings decreasing in the US economy..
However DOW grows up and up.... Well,
this is enough rare situation. It may say that the Market don't "believe"
economists. Who is wrong? Who making a mistake?
May be it is like feast during pestilence.
What are you thinking?
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Another one dissonance.
It is usual that when stock market is up, Gold is down.
The last two month we can observe another situation:
stock market (US) is up and Gold is up. It's not usual.
At first I think that this is the end of the market circle.
;-)
But it seems to me that I understand now:
there had happened changes in this nonlinear system
STOCK MARKET <<==>> BOND MARKET.
There are
STOCKS <<==>> GOLD <<==>> BONDS now.
So, apprehensions, that discount rate (our congratulations to
Mr. Alan Greenspan with 72nd birthday) will grow up,
is the cause of money transfusion in the Gold market like in "sanctum".
Since discount rate (in our opinion) will not raise before
summer 1998, the market of Gold will consolidate himself
at least 2 month yet.
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Sorry for my bad English. Successes,
Aleks.
P.S. The situation with earnings will be understandable
between April, 10--20. I
think that 15--30 of April
will be optimal time for
the "entrance" in the US stock
market (for long or short
anyway).
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