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Oddlot, do you have any current thoughts on just where the metals might be headed? Or the dollar/euro for that matter? Of course alot depends on how Greek debt settlement unfolds this week. CDS's triggered or not!
upn8th. What's your current take on silver? Almost looks like it hit resistance off the highs since last spring. Does the downtrend continue?
rotor. What's your take on gold and silver possibly retesting the December lows?
Another factor to be considered in regards to high gasoline prices along with the gasoline to crude ratio being off balance is that "someone" wants you to own an electric car. Alot of money has been spent on the development of electric cars, batteries, etc.
Quite true. Just noticed the almost perfect "potential" double top while scanning the charts.
The big question would be, are there any buyers left who haven't already gotten in?
The SPX does have a double top showing from early last May.
May not mean anything but Euro bond yields are rising as is the price of oil and gasoline!
wndysrf, you've always considered banks/financials and retail as leading indicators. Any current thoughts?
If bonds top, how will you play the market?
Best house in a bad neighborhood.
I'm surprised that gold etc. isn't doing better considering world wide currency debasement. (QE).
I'm guessing the U.S. markets will trend up. (for now)
Sam, if this is the start of a pull back, what do you see as the maximum downside on the S&P? TIA!
Hey nowwhat, yer trying to hard. Just copy the link and paste it here:
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=djia&sid=1643
bbq, you seem quite knowledgable with regards to the currency markets. Do you have any long term projections or a curreny of choice?
What are your long term thoughts on gold/PM's?
TIA!
Great post. Hope Windy notes that the XLF is weak.
With the major indexes already up 10% for the year, well, it could be an interesting year! LOL!!!
Hey, Rotor, just saw this and thought it might catch your eye.
Not yet techy enough to do charts et. al. but am buyiny physical PM's. Hope this works on our new board, if not I'll try again.
http://www.marketwatch.com/story/glencore-rocks-mining-sector-2012-02-02?link=mw_story_world
Bottom line, a major miner is teaming up with a major commodity broker! LOL!
Sam, I'd call it sucking in the TOM money. Best January since 1997?
Hey wndsyrf, glad to see you have joined the board!
Hard to get overly bullish based on DOW charts.
The coal's aren't looking very hot anymore either. Dang it!
A commentator on Bloomberg News stated that the difference between Greece and Portugal was that Portugal had a longer fuse.
Last summer when the stock market tanked, gold, silver, etc. held up. It wasn't until MF Global tanked (and cleaned out the speculative longs) that the Metals got hit hard.
Therefore, it's quite possible for the stock market to sell off while the Metals keep moving forward.
Just a thought?
Still holding TZA along with AGQ.
Interesting, thanks!
It's also interesting on how it matches Tom DeMark thoughts. What's hard to figure is why Tom DeMark sees a rally in the DAX?
Have you seen any gurus predicting a stock market crash along with a commodity rally? IE, corn, oil and/or gold.
Great link! Thanks!
Any thoughts on yesterdays action? Hard to recall the DOW being up around 100 points with the other indexes flat lining. Tired market? Do the Boyz know something? LOL!
Also, is anyone else following the Greek debt restructuring? Doesn't look good.
Testing