Gold Still Strong
That means stocks have not bottomed and are probably not close. What I have said recently still holds. When gold falters, stocks will bottom. The S&P overnight has backed off to its pivot point and this week we will see better unemployment numbers offset by the world debt overhang. I do not see a double dip. A double dip scare does carry a high probability however.
Essentially we have not made changes to our portfolio’s since we added the last shorts in stocks and commodities last November. The Gold / Oil roll is the exception. The Aggressive Portfolio is 200 percent short and the Conservative is 100 percent short. And just a reminder, this blog tracks a contrarian approach.