20091029 PM

Dow 9,962.58 +199.89
Nasdaq 2,097.55 +37.94
SP500 1,066.11 +23.48
10-YrBond 3.50% +0.09

The anticipated bounce arrived with dollar lower and metals higher. Expect market to continue higher tomorrow.


The shift away from dollars continues as the Fed's self-imposed end of quantitative easing approaches on October 30 (tomorrow).

Saudi Arabia moves away from pricing oil in dollars:
"Saudi Arabia on Wednesday decided to drop the widely used West Texas Intermediate oil contract as the benchmark for pricing its oil, dealing a serious blow to the New York Mercantile Exchange."

Turkey moves away from using trading commodities in dollars:
"Turkey is switching to national currencies in trade with Iran and China, ending dependence on the U.S. dollar and the euro for about 20% of its commodity turnover, local media reported on Wednesday."


GLD 102.70 +1.97
SLV 16.39 +0.53
PTM 16.04 +0.30

XLE 57.60 +1.66
XLF 14.72 +0.57

RBY 4.20 +0.25. Rebound to close back over 4.

EXK 2.78 +0.32. Big percentage price rebound.
FXP 8.52 -0.39