European stock markets have been higher most of this leap day. The new LTRO round by the ECB boosting confidence. Yet Wall Street quickly losing opening gains turned around sentiment and we witnessed a sell-off towards the close. Many European market indices ended with a fractional loss. On Wall Street the S&P closes down 0.47%. Backward looking statements of Ben Bernanke and hints at stronger than expected job growth inspired doubts on more monetary easing.
Precisely the kind of signal PM shorters had eagerly been waiting for. The premeditated sell-off could start. Gold is down about 5% to $1696.7 by the close, a slide surpassing that of the beating after Xmas. Silver fell 6.2% to $34.65.
No wonder we have losses outnumbering gains 5:1 on the GoldMinerPulse list.
The gold miners index is down 3.35% (could have been worse); the silver miners index slides 4.1%. Yet the equal weight index limits its loss to 2.08%. We have four counter-trend double digit gains to account for the equal weight index upholding better. The lucky picks (pennies all of them) are:
1.Plato Gold Corp.
2.Galantas Gold Corporation
3.Tyhee Development Corp.
4.TVI Pacific Inc.
Three of these were the laggards on Tuesday: just to put things in perspective. Surprisingly there are no double digit losses, though over 25 stocks on the GMP list are down over 5%.
You'd be surprised if you only knew. I assume the Dutch understand their own housing market......I know, I'm a bit naive
Re: Haystack March 2012
Posted: 06 Mar 2012, 20:25
Nice and interesting article Boefke.
I'm not sure if we can compare the Dutch housing market with the housing market in Belgium.
In Belgium there is still the factor of the parents, it is common to ask (and mostly receive) a gift, mostly from both sides. And that is already a nice start, we notice in Belgium also that mortgages on 25 and 30 years are now more common instead of 15 and 20 years a few years ago. Those 2 factors will still support the high prices for a while I think...
In Belgium is "a brick" still very important you know.