{"id":6385,"date":"2012-10-19T16:19:45","date_gmt":"2012-10-19T20:19:45","guid":{"rendered":"http:\/\/www.pgm-blog.com\/?p=6385"},"modified":"2012-10-19T16:19:45","modified_gmt":"2012-10-19T20:19:45","slug":"market-update-11","status":"publish","type":"post","link":"https:\/\/www.pgmcapital.com\/nl\/market-update-11\/","title":{"rendered":"Market Update"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-6237\" title=\"market-update\" src=\"http:\/\/www.pgm-blog.com\/wp-content\/uploads\/2012\/10\/market-update.jpg\" alt=\"\" width=\"170\" height=\"190\" \/>An absolute killer day on the markets and some investors might have thought to celebrate the 25th anniversary of <a title=\"Black Monday\" href=\"http:\/\/en.wikipedia.org\/wiki\/Black_Monday_(1987)\" target=\"_blank\">Black Monday<\/a> with a nice sell off \ud83d\ude42<\/p>\n<p>Jokes aside, the US markets had a major down correction, which was based on multiple missed earnings and failed aid for Spain at the EU summit.<\/p>\n<p>This market correction can also be seen as a major profit taking and the precious metals had a major down correction due to Spain talking down any bailout hopes. Oil, Base Metals and other commodities all were down with around <span style=\"color: #ff0000;\">-2%<\/span>.<\/p>\n<p>It must be said that Gold and Silver has reached its technical support levels and its a good buying opportunity. The direction of precious metal will depend a lot on how the next week will develop.<\/p>\n<p>One of the hardest hit markets was the Nasdaq again with a loss of <span style=\"color: #ff0000;\">-2.19%<\/span>.<\/p>\n<p>The two major gainers of the day were the US Dollar (<span style=\"color: #339966;\">+0.34%<\/span>) and the VIX index (<span style=\"color: #339966;\">+12.11%<\/span>).<\/p>\n<p>This weekend we might get some more news out of Europe, but we expect Spain to hold back on their bailout request, but Monday will be an interesting day and should give some momentum for the next days.<\/p>\n<p>Here are some links for this weekend:<\/p>\n<ul>\n<li><a title=\"Stocks Drop Most Since June on Earnings; Metals, Oil Fall\" href=\"http:\/\/www.bloomberg.com\/news\/2012-10-19\/asia-stocks-copper-fall-as-china-adviser-says-no-big-stimulus.html\" target=\"_blank\">Stocks Drop Most Since June on Earnings; Metals, Oil Fall<\/a><\/li>\n<li><a title=\"Debt Fuels a Dividend Boom\" href=\"http:\/\/online.wsj.com\/article\/SB10000872396390444592704578064672995070116.html\" target=\"_blank\">Debt Fuels a Dividend Boom<\/a><\/li>\n<li><a title=\"Black Monday Echoes as Computers Fail to Restore Confidence\" href=\"http:\/\/www.bloomberg.com\/news\/2012-10-19\/black-monday-echoes-with-computers-failing-to-restore-confidence.html\" target=\"_blank\">Black Monday Echoes as Computers Fail to Restore Confidence<\/a><\/li>\n<li><a title=\"Gold Imports by India Seen Climbing First Time in Six Quarters\" href=\"http:\/\/mobile.bloomberg.com\/news\/2012-10-19\/gold-imports-by-india-seen-climbing-first-time-in-six-quarters.html\" target=\"_blank\">Gold Imports by India Seen Climbing First Time in Six Quarters<\/a><\/li>\n<li><a title=\" From Floppy Disk Crash of '87 to Flash Crash of today w\/the Nanex Algo Hunter!\" href=\"http:\/\/www.youtube.com\/watch?v=Lr-8dcLWiRA\" target=\"_blank\">From Floppy Disk Crash of &#8217;87 to Flash Crash of today w\/the Nanex Algo Hunter!<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>An absolute killer day on the markets and some investors might have thought to celebrate the 25th anniversary of Black Monday with a nice sell off \ud83d\ude42 Jokes aside, the US markets had a major down correction, which was based on multiple missed earnings and failed aid for Spain at the EU summit. This market<a href=\"https:\/\/www.pgmcapital.com\/nl\/market-update-11\/\">[&#8230;]<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34,19,30,1],"tags":[],"class_list":["post-6385","post","type-post","status-publish","format-standard","hentry","category-daily-market-update","category-financial-news","category-michael-panneflek","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/posts\/6385","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/comments?post=6385"}],"version-history":[{"count":0,"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/posts\/6385\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/media?parent=6385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/categories?post=6385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/tags?post=6385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}