11 June 2006
A Slow Unravelling - Or Will It Turn into a Crash?
Safe Haven | A Slow Unravelling - Or Will It Turn into a Crash?: "Investors may be in for a surprise when they open their May investment statements. For the first time in a while the markets had a down month. For the record, the Dow Jones Industrials (DJI) fell 1.7 percent, the S&P 500 3.0 percent, the NASDAQ 6.1 percent, the TSX Composite 3.8 percent, and the AMEX Oil Index (XOI) 2.7 percent. The worst performer was the Gold Bugs Index (HUI), down 12 percent. A number of the indices were down at important support zones and threatening to break through them, while the DJI also failed to take out highs seen in January 2000, leaving the potential for a massive multi-year double top. Shudder at the thought, as potential targets would be around 4,000."