Monday, stocks in Asia closed up slightly while those in Europe fell 0.3%. In the U.S., they closed flat on low volume. Stocks closed little changed unchanged Tuesday on low volume. The Federal Reserve is getting more vocal these days with three presidents giving speeches Tuesday, following the Bernanke speech the day before. Could it be that they are worried about a pending market decline and are trying to talk it up? Apple closed at about $486 per share. That was the first sub-500 close for the stock since last February.
Stocks fell 0.6% in Asia Wednesday. In Europe, they closed flat, but in the U.S., they declined about 0.3% on low volume. Things are starting to feel a bit eerie. This year, after plummeting, the VXO has nearly flat-lined in the low 13 range. Stock index prices remain elevated to the max—courting the upper Bollinger band daily. Something has to give with this extended period of suspended animation. Germany announced it wants to withdraw 300 tonnes of its gold on deposit at the Federal Reserve. Could the fact that they will wait seven years to complete this bank run, and that Germany wants to hold it in their banks be any indication of the integrity of the Federal Reserve?
Asian stocks closed flat Thursday as those in Europe closed up 0.4%. In the U.S. the fantasy continued with stocks rising 0.6% on low moderate volume. Friday, stocks in Asia rose 1.1%. In Europe, stocks fell just slightly. In the U.S. stocks rose 0.3% on high moderate volume (increased by options expiration). VXO plummeted nearly 10% to close at 12.14. For the week, stocks rose 1%.