*********** Gold related rambling ***********
Agree on the ample opportunity to buy PMs even post revaluation, if any. So many stocks near their lows even if they spike 10%+ they're still cheap IT, LT. GATA never seems to have the scoop on anything timing wise. The fact that I've seen more than one article on this leads me to believe China will disappoint the market at least in the very ST. Maybe a few weeks or months from now, but I don't remember the last time China did anything when the market expected/wanted it? Do you? Thanks for the Saville as always. Going to get off my butt shortly and subscribe. Been slammed w/real world stuff of late and trying to stay away from the computer. It's tempting to trade this whip saw action, but more and more markets and PMs looking like they'll follow Saville's script. I honestly wouldn't be suprised to see HUI 120 again later in the year if things really wash out. I don't think that's the most likely target, it just wouldn't surprise me. Probably 150 to 160 area more likely. Euro at 1.2855 again. Gold really getting setup for a slam if China doesn't revalue. If/when Euro breaks 1.275 (not too far away now) it goes to 1.25 in short order. It seems like there is hope that the Fed will give indications at this meeting that they'll stop after this hike. I'd be very surprised if Greenspan throws the market a bone ST. He'll want to wash out more of the excess and he'll want more data pts. Maybe a week or two after the meeting he'll make some comments, but ST we haven't even had the Dow close below 10,000 yet.
Rambling a bit I guess.
AI
