10:21 Gold drops to fresh lows at $924.80 on dollar's strength; now off $14.70 to $926.00
OUCH ... sold my CS.to today to lighten gold exposure.
10:24 Consumer confidence down
The Consumer Confidence report for June from the Conference Board checked in at 49.3% versus 54.8% in the prior month and the consensus estimate of 55.3%. The disappointing read was driven by a drop in both the Present Situation Index (to 24.8% from 29.7%) and the Expectations Index (to 65.5% from 71.5%). The determination by the Conference Board is that the decline in the Present Situation Index continues to imply that economic conditions are still weak, though not as week as earlier this year.
When the market turns in your direction, POUNCE on it.
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