Friday, October 17, 2014

S&P500 swoon is really not much to date, despite the volatility

The index at 1886.76 is about 6% off the peak reached on September 18.

Down 10% would qualify as a correction, down 20% as a bear market.

It's still a great time to sell! Your Peter Cundill sell markers are roughly S&P500 1900, 1700 and 1500, depending on how much you want to risk losing. 

The dollar closed tonight at 85.19

The 52-week high was 86.746 on October 3. The 52-week low was 78.906 on May 8, just five months ago.

I don't find that big of a move in so short a space very encouraging yet. A stable price at a high level is better. Let's see what it can do.

Gold and oil tonight are fairly valued one to the other

The gold/oil ratio comes in at 14.973, which is effectively par.

Gold is $1239 the ounce, oil $82.75 the barrel.