You’re asking the wrong person here I’m afraid. Was actually discussing this on another thread just last night (well: not sure “discussing” is the correct word i.e. more like being facetious I suppose). I just don’t understand how fundamentals can have an impact on the business of TRADING is all. Not only that. You can go find ten EDUCATED and QUALIFIED people right now this morning that will give you ONE take on things and I’ll be able to find another ten that will give you a totally opposite and contrary view. See my point??? As I noted last night: if you’re TRADING do you really care what the fundamentals for Gold (for example) are TODAY??? So MAYBE the fundamentals for Gold say that it’ll go to $5 000 an ounce in the next five years. Who cares??? That may very well be correct. But as a TRADER I want to know where it’s going to be today, Monday, Tuesday, whatever. Not where it’s going to be in five years time. And regardless of the fundamentals: nothing goes straight up and straight down. And that’s what TRADING is all about in my opinion. Sure. If the fundamentals check out and you want to buy Gold today and hold onto it for the next five years well then no problem. But that’s not TRADING in my opinion. That’s INVESTING. But I’ll tell you this too: it’s no way to make money. Not even on the stock market (“buy and hold”). Fundamentals can and do change. All you have to do is watch Bloomberg for one week and you’ll see what I mean by that. And as I keep banging on: people that have spent their ENTIRE LIVES studying economics etc. get it wrong. So what chance do us mere mortals stand of understanding this stuff and getting it right or worse: making trading decisions based on fundamentals. I don’t consider myself a stupid person by any means. Matter of fact I did my articles and obtained a degree at university when I left school. Five years of studying to become and auditor. And I still don’t get it. But hey: maybe I’m not as clever as I think I am. Who knows. Maybe I just don’t have the aptitude for the abstract. Could very well be the case I’ll admit. And of course you have to factor in what I trade i.e. no spot FOREX. All that counts for me is the fact that the S&P always reverts to the mean even when it’s trending one way or the other. And as long as that happens every few days well then to me the fundamentals of the stock market really don’t matter.