2. Gold had a suprise confirmation of its upside potential as India and China were competing for the stake of the IMF and India was the one to buy half the stake. Thsi kind of news confirms the 1300/50 target first half 2010.
IMF Sells 200 Tons of Gold to India's Central Bank
The International Monetary Fund said on Monday it sold 200 tons of gold to the Reserve Bank of India for $6.7 billion, quietly executing half of a long-planned bullion sale that had threatened to slow gold's rally.
While the IMF's plan to sell some of its gold holdings had been flagged for a year before it was formally approved in September, the speed of the deal and the buyer were a surprise for traders, who had expected China — not India — to be the leading contender as Beijing diversifies its vast reserves.
The sale, which an IMF official said was concluded at an average price of about $1,045 an ounce over a two-week period in the latter half of October, will relieve the market of some of uncertainty over how and when the fund would execute its plan to sell 403.3 tons of gold, about one-eighth of its total stock.3. The earnings which are cheered up in so many cases are still negative allthough banks have a taxpayer sponsored earnings blow with faked balance cheats. The industrial complex lives off an artificially low Dollar combined with drastic cost-cuts. - but still overall negative. Consumers were trapped into purchases by their shameless governments but those will be missing going forward ( except the luxury items Wallstreet might consume after a record bonus this yearend all the noise from DC is just charade noise).
As of Monday, November 2nd:
As of October 1st, the earnings growth rate was at -24.8%.Of the 359 S&P 500 companies who have reported Q3, 81% beat estimates, 6% were in-line, and 13% were below estimates. The blended earnings growth rate for the S&P 500 for Q3 2009 is currently at -16.3%. (Data provided by Thomson Reuters)