The market gave the signal yesterday and the naysayers are piling on this morning. Maybe they are looking at the wrong leadership. We expect oil, gold, and commodity stocks/ETF’s to lead this next move to 1050 on the S&P.
A lot of eyes are focused on the auto deal. This should let the market sneak higher while the press focuses on a non-issue.
In terms of leverage ratios based on equity in the total portfolio we are currently at net long 0.91 in stocks, net long 0.31 in combined oil/gold/commodities, and net short 0.12 in T-Bonds.
7:51 AM CST