Earlier in the day today, international markets were strongly higher: Australia (+3.9% to 4098.7), Shanghai (+2.3% to 1974.0), Hong Kong (+5.3% to 15323.0), India (+2.5% to 10223.1), and Japan (+3.6% to 9005.6) were all in rally mode.

In Europe at 8:30am ET (vs 6:45am today), the French CAC +1.7% (+2.2%); German DAX +1.1% (+0.9%) and UK FTSE 100 +2.1% (+1.8%) shows a less strong day -- but a bullish one nonetheless. The Oils and miners are leading these markets higher at mid day.

In futures this morning, the $USD is at 82.92 (a tad stronger in the past 90 minutes from 82.645) and Euro is at 134.04 (down from 134.39 about 90 minutes ago).

Crude Oil futures are 73.83 (+1.70/bbl), but were 74.29 about 90 minutes ago.

The prices for gold, palladium, platinum and silver had been stronger until about 2:00am, but have had a bit of a slide since then, back to close to Friday’s levels.

The DJIA futures at this time are at 8954 (+184), which hasn’t changed much in the past two hours.

Commentary:

Earlier today the markets looked very strong, but then the HB&B back office administrators started arriving at the office where they discovered they had to issue many margin calls. What happens in that situation is that the brokers become ruthless – they hold their buy own orders back for a while, while they sell out the clients at the worst price to the client. Then the brokers step forward and buy in at lower prices.

This tactic is called front running – only in a different way. It is supposed to be illegal. HB&B will say it’s just acting in their best interests. More conflict of interest we don’t need. The market is a big enough challenge as it is!

But like the weather – it is what it is. We have to deal with it. Yesterday for instance was a beach kind of day. I spent my time wisely. A Kalik beer on the beach. Several actually.

The weather here in Nassau today is like the market today – a bit undecided. A bit breezy, and maybe some rain later. But the warm, dry winter season is almost upon us. No more storms!

Yes, just like the market.

Enjoy your day.

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Links & Charts

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International Economics Review

US Economic Calendar.

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International Equity Markets Review

Europe

Here is the latest session data for the bourses of Europe.

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Here is the latest session data for the London stock exchange FTSE.

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Here is the latest session data for the German DAX.

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Here is the latest session data for the French CAC 40.

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Here is the latest session data for the Milan Italy stock exchange MIBTEL.

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Here is the latest session data for the Swiss market index.

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Asia-Pacific

Here is the latest session data for the Asia-Pacific stock exchanges.

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Here is the latest chart for the Japanese Nikkei 225 index.

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Here is the latest chart for the Singapore index .

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Here is the latest chart for the Shanghai Composite index .

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Here is the latest chart for the Hong Kong Hang Seng index .

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Here is the latest chart for the India BSE 30 index .

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Here is the latest chart for the Australian All Ordinaries index .

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US Equity Markets Review

DJIA (interactive) chart

NASDAQ Composite (interactive) chart

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Oil Review

Here is the e-miNY Aug-08 Crude Oil chart.

Interactive Chart of Daily Crude Oil:

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Gold & Precious Metals Review

Spot gold chart for the week

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Spot silver chart for the week

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Forex Review

Here is the chart of the week's trading in the $USD.

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