Seeing a lot more price drops in the areas I have been looking over the past month. Sellers seem a lot quicker to cut the price after initial market at 'opening' level.
Obviously most are still quite optimistic in their valuations however EA's are a lot less condesending when I give them my opinion on the property current market value.
A couple of properties I have seen recently have dropped 10% of their price after not shifting within a couple of weeks. Seems like people dont want to hang around.
A good chance they trade in this market though from what I have been hearing....we'll see!
We seem to be approaching the upper level of G/S's recent MT triangle which should act as resistance, think we will need the next leg of this sovereign collpase for the G/S ratio t obreak substantially higher.....saying that doesnt seem like we are far away given the news flow!
I'm err-ing on the side of we get a small leg up here. Copper and oil breaking out, G:S ratio declining and a bullish correction in stocks.
Also, I think the USD may be a due a larger consolidation here. Possibly a wave 2 back to 79.5 area.
I expect a test of the upper expanding triangle resistance in the S&P, possibly even the 61.8% fib. Risk trades on.
The one doubt in my mind is that the markets have done their job in decreasing the amount of bearishness out there. So a perfect time for the markets to crap out!
Splat! 233-day SMA at 15.50 - will bounce here surely. Im hoping for a bounce generally, more in the stock markets so i can add more shorts.
EDIT: Also DXY testing 80 and gold at support at 1071 ish. If we dont bounce now, we never will
Well sterling seems to be starting its plummet vs the USD, so GoldGBP may do very little.
I think we have seen the 1st quarter seasonal peak, it appears to get a month earlier each year. May in 06, March in 08, Jan in 2010?
Bought some gold via GM this am. Was going to cancel as I was in two minds this morning, but then realised I was locked in. Ho hum. Just over 50% invested in gold so still have some dry powder.
Im convincing myself more and more the USD move has some legs and could well push gold to the 1000 level. Probably best to go against my 'sure thing' thinking