Daily Market Blog: Scares for the bears
"Markets are cooking. Absolutely cooking, the Japanese have "unexpectedly" announced more stimulus measures, Japanese inflation is taking hold and the Yen is weakening significantly. The only scares today are for the bears."
To market, to market to buy a fat pig. Resource stock prices swooned again, dragging the rest of the market along, that was not the case globally where indices are less reliant on big mining companies. Although as we pointed out yesterday, Anglo American had slipped quietly to 9th place on the overall ranking places here in the index. AngloGold Ashanti plunged yesterday, it was on the biggest losers list and in fact is trading at lows last seen, well, since forever. It is not the worst performer of the gold majors, no, Harmony Gold is down an incredible 74 percent in ten years. On an inflation adjusted basis it is a whole lot more, the losses that is.