The Bottom Line

Posted by Don Vialoux - Dennis Gartman Comment

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by Dennis Gartman:

There is talk in the market that the US Treasury and/or the IRS may soon announce some sort of amnesty regarding profits that have been retained abroad by US corporations and that shall force the dollar to trade higher. We are not certain how valid are those rumours, but they are there and they are being discussed and as the old aphorism goes, “Where there’s smoke….”

by Don Vialoux:

The Bottom Line

Technical, fundamental and seasonal influences are not for the faint-of-heart at this time of year. Selected sectors with favourable seasonal influences (e.g. agriculture and gold equities) have “clicked in” as expected and remain good candidates for accumulation on weakness following gains recorded during the past two weeks. However, most investors rightfully are reluctant to add to positions at current prices given strength in equity markets during the past two weeks. Cash and cash equivalents are preferred investments for those who have not committed to the Independence Day trade.

…read Don’s July 4th post and view 45 Charts HERE

….read Don’s July 5th article: Equities to come on strong by Q4