Well, I've just picked up some TRY at 145.5. I'm satisfied after quite a bit of research that this low cost producer will return well enough on my investment.
SBM bid is close to being taken as well.
With the Rupee strengthening against most currencies now, I'm picking that Indian wedding and harvest gift buyers will begin purchasing more earnestly through the remainder of this month and early October. That's my theory and I'm sticking to it....at least for now.
Much is being made of this week's so-called 'tapering' which is an euphemism for not-quite-printing-as-much-extra-money per month as has been done over the past few months. So-called 'qualitative easening' #1 tapered to zero, likewise QE2 but this one is hardly being tapered at all. If the Feds stopped QE altogether they know that the stockmarket would crumble - and the US politicians and career bureaucrats prefer a slower death where the real substantial pain is inflicted upon their nation's children (i.e. after they are no longer in power). The national debt ceiling if lifted will push the US's debt/GDP ratio over the threshold used by the IMF in Europe to justify a bailout...and the rhetoric is meanwhile full of lies about a US recovery being just around the corner. Do the Math - it won't happen anytime soon. I'm buying Gold and Silver stocks accordingly. It's not a matter of 'if' their shareprices rise, but 'when' - I'm picking later this week. Already today it's bouncing up off a double bottom at 1310USD.
Don't miss the wave.
BC
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