Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Monday, the 11th of February.
2013-THE YEAR OF THE SNAKE
Yesterday was the beginning of Chinese New Year, the year of the snake. Traditionally, the Chinese set off fireworks to mark this holiday and celebrations take place throughout China. This year, sales of fireworks were 37% less than in previous years. This was said to reflect a government appeal to ignite fewer fireworks to avoid more pollution in the cities. The year of the snake means it's going to be a year of steady progress, focus and discipline for the nation of China. Given the crazy world that we are living in, steady progress, focus and discipline are not a bad way to go IMHO. [Read more...]