Market action Nov 7th, 2013

I would not worry about the market action today; it seems stocks are tired and pausing for breath while they figure out how they will move up. They are pretending to pass the baton to bonds but we know there’s not much upside there. Gold also down with lower inflation worries in Europe but that is a temporary phase too, as bulls will soon dominate in 2014, as the “race to the bottom” in rates will ensure the asset is re-assessed (and favorably).

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