My dear friend Rob Reid had a book launch party last night, which I attended. He’s written a massive new novel called After On, which I’ll do a post about once I manage to read the tome.
The big news in the markets, of course, is Apple, which is roaring to lifetime highs at this very pre-market moment, up over 6% on strong earnings. This is pushing the NQ higher too, of course, although its own gains have softened a little overnight (hence the black bar, instead of white) and which itself is NOT at lifetime highs. The NQ rocketed over 7% in the month of July alone, so I guess the excitement is already sort of built into the overall market.
I had become so disenchanted with trading in gold (and miners) that I stopped, but boy, I sure wish I was short gold right now. This is a beautiful setup, and it looks like it is finally, finally, finally rolling over. The dollar, as I mentioned yesterday, looks like it’s ready to get itself up off the floor, and if it does, gold is screwed ‘n’ tattooed.
It’ll be extremely interesting to see where the NQ is at day’s end, after it’s had a chance to truly digest the AAPL news, which is pretty much the last major earnings event, at least in tech-land.
