With stocks rallying, the dollar soaring and oil falling out of bed, there are suddenly a lot fewer metal fans in the market.
Futures prices on a range of different metals were flattened like a penny on a train track Monday. Comex gold for August delivery dropped 4.2% to $821.50 a troy ounce, in the biggest one day drop for the shiny stuff since March 19....CONTINUED
Are metal prices headed for a big bottom? (Wikipedia)
That's Tim Annett's choice of graphic (and Tap ref.), which brought to mind this post by Mark Gongloff, last month:
Hard Rock and a Hard Place
Mark Gongloff has this report on the place where bad markets meet rock and roll.
If the economy and stock market are spiraling into despair, that must mean it’s time for a hard-rock revival.Crazy. But that’s how it goes.
We received in our inbox a note from a source pointing out that the late 1960s and early 1970s — when the economy, stock market and national mood began to turn ugly – brought us such gods of heavy-metal thunder as Led Zeppelin, Black Sabbath and Deep Purple.
As a bear market and stagflation gripped the nation in the 1970s, we consoled ourselves with the eardrum-abusing sounds of Aerosmith, Kiss and AC/DC. Punk was also born in this era....MORE
Among the comments:
We need to use more rock dots in everyday English. That’ll even things out.
Come on, we all know that Mr. Gongloff’s secret shame is humming ‘Wake Me Up Before You Go-Go’ when he thinks no one can hear.Comment by - July 11, 2008 at 8:47 am
Comment by - July 11, 2008 at 5:52 pmOur theme song:
Here's our mascot, from: "First Solar and Knut the Polar Bear (FSLR)"
Fangs for the memories: Knut is separated from this little boy by six inches of glass
One year on, cuddly Knut has turned into a 22st killing machine
From the Daily MailWe've had a lot of Knut, here's the list. Here I called him a fat freak (after making sure I was a few thousand miles away)...
Climateer Investing, your spot for Knut and the gratuitous metal ümläüt*.
*Die Ärzte used a triple umlaut (which I can't reproduce) in their name on one of their albums, Geräusch: