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Market Update

randholm
November 7, 2013 10:56 am / Published in ECB, EUR, EUR/USD, GLD, Market Internals, Nasdaq

Market Update

ECB unexpectedly cut its main benchmark rate by 25 basis points to 0.75%. Euro is falling against the dollar. Gold investors should take note that the reason behind ECB rate cut is fear of deflation.

Today the market had an important gap up which we used to sell long term SPY positions.

The marke internals shows that in both NYSE and Nasdaq cash is exiting the market. So I don’t see the market moving higher if cash is getting out 2.6 vs 1 in NYSE and 3.29 vs. 1 in Nasdaq

We are still holding long term long positions but caution is need it at this levels.

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Mario Randholm Blog. Mario is the founder of Randholm & Co. S.A.C., an investment management company dedicated to producing superior returns for its clients and employees by adhering to mathematical and statistical methods.

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