Monday, stocks in Asia rose 0.3% but in Europe closed flat and in the U.S. down slightly on very low volume. The VXO drifted even further downward to descend to an unsustainable level below 11 and settle at 10.94. In Asia Tuesday stocks slid 0.3%, retracing the gains the previous day. In Europe, stocks fell 0.4% and in the U.S. 0.6% on low volume taking the S&P 500 Index below 1700. IBM slid about 2.5% as an analyst downgraded the stock finally exposing the stock price manipulation tactics and holes in balance sheet strength. The VXO reverted a bit, rising 6.5% to close at 11.65, precious metals dropped over 2% as their miners swooned 5%.
Wednesday, Asian stocks plunged 1.9%. As we patiently await the inevitable market correction, here’s a good article that describes how declines have happened in the past. Stocks in Europe retreated just 0.3%. They lost ground despite dovish statements and actions from the Bank of England. In the U.S., stocks fell 0.5% on low volume. IBM broke below $190 per share.
Thursday, in Asia stocks fell 0..6%, but in Europe they rose 0.4%. In the U.S., stocks rose 0.7% on low volume. The 10-Year U.S. Treasury Bond rate slid back below 2.6% to settle at 2.59%. Precious metals roared back 4% and their miners about twice that. Friday, as on Monday, stocks in Asia rose 0.3%. News from Japan gives us reason to start using the number quadrillion on a more regular basis. In Europe they rose 0.6%. In the U.S.. stocks declined just slightly on low volume, but the VXO jumped up over 8% to end at 12.63.