MARKET COMMENT
February 15, 2007
We wish to announce the
completion of our second podcast interview with the Emerging Markets
Monitor [London]. No registration is
required--so just listen, learn and hopefully you’ll profit from the experience.
Given the extensive nature of the subject the
interview is over 40 minutes in duration.
These folks are quite good at assessing fundamental market data and
developments from countries within Eastern Europe, Africa, India, China
and Latin America to name just a few regions.
Given that these markets are the hottest on
the planet you’d be well-served by the content since it provides more
understanding as to why the area is so robust.
Meanwhile, back in the congress, Fed Chairman Bernanke chatted with a less friendly crowd led by Barney
Frank.
Nothing much changed by the end
of the day either there or in the markets frankly.
But let’s look at the few sectors that are under everyone’s
microscope.
There are two stories floating about regarding oil.
One is that oil prices could drop to $30
which seems “now” unlikely.
The other is
that oil prices are going to go much higher for the usual reasons and of course
this in intuitively the more likely.
Now
oil prices should have no direct link to gold prices.
Gold usually trades off economic data,
monetary policy and the value of the dollar.
Now if oil prices were to fall to $30 from this level would gold prices
follow it lower.
This is an interesting
speculation since “some” oil producing countries may need to sell gold to cover
their expenses.
Then again, petrodollar recirculation
to US bonds and dollars would be negatively affected one would think.
All this thinking is giving me a headache
which is why I’m only too happy to continue trading technically.
We can promote things just like other more louder prominent
members of the financial news media.
Okay, that’s enough for one week of commentary.
Nowadays 40 minutes is a lot to ask of
anyone, but if you’re interested in learning more about Emerging Markets you
owe it to yourself to listen to our special podcast
interview with Emerging Markets Monitor.
For subscribers, please don’t expect a normal weekly podcast on Friday it may be delayed until Saturday if then.
To everyone else, have a pleasant weekend.
Disclaimer:
Among
other issues, the ETF Digest maintains positions in: KCE, GLD, SLV, DBP, SPY,
RSP, MDY, IWM, QQQQ, IGN, FDN, PZI, PPA, PHO, EWJ, ILF, INP, EWA and EWM.