The Golden Sunrise
The essential morning read for investors!
Golden Sunrise is the Golden Surveyor’s broad-based market and world view.
Written daily 4am-7am by markets information specialist GS John!
Today’s Golden Sunrise
Monday, June 07, 2010
Hours of daily research consolidated for you
The Dollar, Gold, NatGas, VIX, Most of Asia up on Week
|
Market |
28-May |
4-Jun |
ChangeWK |
%changeWK |
ChYTD |
%ChYTD |
|
Japan-Tpx |
878.52 |
890.16 |
11.64 |
1.325% |
-17.43 |
-1.920% |
|
HongKong |
19,766.26 |
19,780.07 |
13.81 |
0.070% |
-1636.93 |
-7.643% |
|
Shanghai |
2655.77 |
2553.59 |
-102.18 |
-3.847% |
-709.41 |
-21.741% |
|
Taiwan |
7295.32 |
7344.59 |
49.27 |
0.675% |
-767.41 |
-9.460% |
|
South Korea |
1622.78 |
1664.13 |
41.35 |
2.548% |
31.13 |
1.906% |
|
Australia |
4457.5 |
4449.4 |
-8.1 |
-0.182% |
-383.6 |
-7.937% |
|
Singapore |
2,739.70 |
2,806.51 |
66.81 |
2.439% |
-73.49 |
-2.552% |
|
India |
16,863.06 |
17,117.69 |
254.63 |
1.510% |
-226.31 |
-1.305% |
|
|
|
|
|
|
|
|
|
UK-FTSE |
5188.43 |
5126 |
-62.43 |
-1.203% |
-312 |
-5.737% |
|
Germany |
5946.18 |
5938.88 |
-7.3 |
-0.123% |
-73.12 |
-1.216% |
|
France |
3515.06 |
3455.61 |
-59.45 |
-1.691% |
-504.39 |
-12.737% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DJIA |
10,136.63 |
9,931.97 |
-204.66 |
-2.019% |
-496.08 |
-4.757% |
|
S&P500 |
1089.41 |
1064.88 |
-24.53 |
-2.252% |
-68.11 |
-6.012% |
|
NasComp |
2257.64 |
2219.17 |
-38.47 |
-1.704% |
-88.83 |
-3.849% |
|
NDX100 |
1852.39 |
1832.04 |
-20.35 |
-1.099% |
-54.96 |
-2.913% |
|
R2000 |
661.61 |
633.97 |
-27.64 |
-4.178% |
-6.13 |
-0.958% |
|
NYSE |
6791.57 |
6600.27 |
-191.3 |
-2.817% |
-726.73 |
-9.919% |
|
Tran |
4336.06 |
4157.17 |
-178.89 |
-4.126% |
26.17 |
0.634% |
|
Util |
361.19 |
354.27 |
-6.92 |
-1.916% |
-44.73 |
-11.211% |
|
|
|
|
|
|
|
|
|
Canada-TSX |
11,671.44 |
11,569.61 |
-101.83 |
-0.872% |
-132.39 |
-1.131% |
|
TSX Venture |
1502.88 |
1464.92 |
-37.96 |
-2.526% |
-89.08 |
-5.732% |
|
Brazil |
61,946.99 |
61,675.75 |
-271.24 |
-0.438% |
-1620.25 |
-2.560% |
|
|
|
|
|
|
|
|
|
Gold |
1212.2 |
1217.7 |
5.5 |
0.454% |
120.7 |
11.003% |
|
Silver |
1841.1 |
1729.9 |
-111.2 |
-6.040% |
34.9 |
2.059% |
|
Copper |
309.7 |
281.25 |
-28.45 |
-9.186% |
-51.75 |
-15.541% |
|
Crude Oil |
73.97 |
71.51 |
-2.46 |
-3.326% |
-4.49 |
-5.908% |
|
Natural Gas |
4.341 |
4.797 |
0.456 |
10.504% |
-0.953 |
-16.574% |
|
CRB Index |
255.05 |
248.94 |
-6.11 |
-2.396% |
-36.06 |
-12.653% |
|
|
|
|
|
|
|
|
|
$index |
86.50 |
88.31 |
1.81 |
2.092% |
10.36 |
13.291% |
|
Euro |
1.2324 |
1.1966 |
-0.0358 |
-2.905% |
-0.2325 |
-16.269% |
|
Yen |
1.1007 |
1.093 |
-0.0077 |
-0.700% |
0.0212 |
1.978% |
|
|
|
|
|
|
|
|
|
VIX |
32.07 |
35.48 |
3.41 |
10.633% |
13.8 |
63.653% |
|
VXN (Nas) |
31.61 |
34.16 |
2.55 |
8.067% |
12.51 |
57.783% |
|
VXV (S&P) |
30.63 |
34.37 |
3.74 |
12.210% |
10.48 |
43.868% |
|
RVX(R2000) |
38.491 |
43.67 |
5.179 |
13.455% |
15.52 |
55.133% |
The weekly totals don’t look that bad overall but what was a positive week going into Friday got totally blown apart on the final trading day of that 4 session period (in the US and Canada). More important, look at the year-to-date numbers with the reflection that just a few weeks ago they were very positive and in the context of what is still positive for the year. The keys metrics for the year are gold, silver (maybe there is a monetary component to this metal after all-Silver Eagle, Maple Leaf sales are certainly saying so), the US dollar, the Yen, and Volatility by a number of different measures, and, just barely, the Transports.
Not included in the Transport index, the Baltic Dry Freight Index was down about 5% and is mainly influenced by the demand for iron ore and crude oil, with China the main destination. Copper prices have fallen off a cliff, a leading economic prospects indicator and, again, China the biggest user, the CRB is down to a multi-month low, the Libor rate is creeping up and the TED spread spiked on Friday (the latter two items reflecting a fear gauge of sorts between major financial institutions and a price indicator for the commodity money in all its various and sundry paper guise).
I listened to both Vice President Biden interviewed on various matters but his comments spinning the disastrous monthly job report on Friday as a positive and extolling the wisdom of the administrations’ create more debt and put many more people on the government payroll programs and Labor Secretary Hollis doing the same thing should increase the demand for anti-nauseam medications. Of 430,000 “new jobs” created last month, the government hired 409,000 temporary census workers. Again, I commented on that Friday but I will say this to the Veep, “Joey, this is a BFD and you are reported to know one when you see one” and the policies being promoted are destroying jobs and crushing the few remaining productive people who actually produce them. The numbers going forward will prove the point one way or another but I was struck by how carefully prepared and sound-bite conscious the Admin team were in commenting on their performance. Mr. Market seemed to have a different point-of-view and 3-4% drops across the board are speaking loud and clear.
US futures are up slightly this morning as I get ready to post this. Trust Biden or Hollis or own some real gold or silver.
JohnR
Goldensurveyor.com
