would not surprise me sometime in the next 10 days, probably sooner rather than later and my $ 750 downside objective is in play between now and Thanksgiving. The reasons are apparent and have been discussed at length here. Stocks in…Continue Reading →
Yesterday’s rally in gold and decline in stocks is being heralded by many as the start of something. It would seem to me that it looks much more like the last hurrah for the funny money let us inflate out…Continue Reading →
Deficit reduction is long term bearish on gold and commodities, period. We have talked at length on that issue. We got out of stock positions yesterday on the opening, but are still looking for price distribution and sideways action for…Continue Reading →
What we mean is that the world has not come to the end. As we repeatedly point out this is not 2008. The Europeans have choices, the Germans have a lot of money, the question is how much they want…Continue Reading →
What set off this market crash. Look back at the day it started and what triggered it. On that day the S&P 500 had a high of 1343 and closed at 1320. Today the market looks like it will open…Continue Reading →
I am almost afraid to say what I am going to say today, but there actually is a case, albeit a weak case, to be bullish on the stock market. The weak case that it is built around is the…Continue Reading →
Employment not deficits is the primary issue. The weekend news and opinion pages have the facts in spades. My favorite two articles are: http://www.nytimes.com/2011/09/04/opinion/sunday/jobs-will-follow-a-strengthening-of-the-middle-class.html http://blogs.reuters.com/chrystia-freeland/2011/09/02/will-belief-trump-facts/ For those who don’t read the facts and embrace them, there appears still to be…Continue Reading →
In the last six days we have seen daily volatility on the S&P 500 equal 23 percent of the yearly range. All of this is occurring in what we feel is a price distribution environment, a year when annual volatility…Continue Reading →
This has been a busy week for us. We covered a 200 percent short stock position ( leveraged short ETF’s) , built our short gold position to 30 percent, added to our long dollar position which now is around 10 percent,…Continue Reading →
We continue to watch the dollar / gold relationship for signs of dollar strength and the coming decline in gold. Probably the easiest way to do that is to watch the ratio between the gold ETF GLD, and the dollar…Continue Reading →