What to do Here?……with Update….++
I got a complaint this morning, from a known right-wing Republican, “how can you be talking about politics when Rome is burning? “Â That is the point, why is Rome burning?Â As too what you should do, our tracking portfolio is about 90 percent invested, 65 % in stocks, and 25 % in gold coming into the weekend.Â What am I doing this morning, nothing, may buy some more stocks if the market basis the S&P goes down to our original objective for this leg down at 1172.Â
The sectors one is long for the bounce that is next will be elaborated on later today.Â I probably shouldÂ have titled today’s late comment, “Finally the Bush Adminsitration did something right, they took away the Candy Jar”.Â Now we have to hope that the Fed does the same thing this week and doesn’t lower rates.
8:11 AM CDT
UPDATE at 9:45 AM CDT
Sold out gold postition on this early knee jerk bounce.
Update at 12:13 PM CDT
Just completed moving the gold money into a couple of tech stock ETF’s which have been beaten down over the past few weeks. Gold should continue to rally to $ 800 area but relative percentages don’t work for it here.