Alcoa reported its set of figures for the quarter ending on September 30. Press release: Alcoa Strengthens Cash Position and Returns to Profitability in Third Quarter.

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Looks like market optimism is not jet ready to vane. On the back of falling dollar the gold reached new highs, and equity followed. It looks that the speculation on extension of some stimulus measures played most important part in this mini rally. Looks like dollar, gold, crude oil and equity correlation have become a part of computer algorithms and almost perfect inverse relationship will continue. Not indefinitely, I’m sure. It looks artificial.

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