The previous post was written early Friday morning when gold and all commodities were sinking.
Eventually gold and the gold miners turned around and soared while the stock market lost 2.5% of its value. GDX (gold miners) finished up 2.5% and GLD jumped 3.9%.
TLT (long-term Treasury bond ETF) was also strong, up 2.4%.
Incidentally --- Treasuries and gold miners (gold was not allowed to trade back then) were the only asset classes moving higher in 1929.
George Dagnino, PhD Editor,
The Peter Dag Portfolio.
Since 1977
2009 Market Timer of the Year by Timer Digest
Portfolio manager
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