It’s times like these that I think back to my high school physics class

It’s times like these that I think back to my high school physics class and Newton’s concept of “what goes up must come down”. Now, granted, he was speaking about physical objects and not stocks but the party can’t last forever…never has and never will. Nonetheless, the risk-on herd mentality has stocks poised to push further into uncharted territory. The gold arena has been under pressure as the positive sentiment lingers but the fact that the yellow metal hasn’t sold off even further might be testament to market participant’s reluctance to pop the bubbly just yet and go all-in on equities. The industrials have found some support from the recent move to riskier assets and a perceived improvement in broader economic conditions. Platinum was also supported by a brief strike at Lonmin’s Marikana mine that was over just about as quick as it arose. ADP reported private sector jobs added 198,000 souls to the payrolls but that’s only a piece of the employment picture as initial jobless claims come out tomorrow and the Non-Farm Payrolls number comes out on Friday. Have a great day!