HYPERINFLATE OR DIE
It’s Halloween, the “trick” is on TPTB; laboring under a tsunami of “horrible headlines” as it desperately attempts to LOCK DOWN markets in front of next week’s election.
In Europe, Greece’s new budget and Spain’s housing data prove the continent must HYPERINFLATE OR DIE; while in the U.S., the Chicago PMI “surprisingly” remained in recessionary territory, while initial cost estimates for Hurricane Sandy project it could be as bad as Katrina. Not only that, the “SURROGATE PPT” – Apple – is getting hammered; to within a “hair’s breadth” of its 200 DMA.
PMs continue to look like they have bottomed, as the “Commercials” are now covering in front of the election, $1,700 gold has held like a ROCK; and the dangerous post-election world comes into view.
Andrew C. ("Ranting Andy") Hoffman, CFA
Miles Franklin Ltd.