Gold Alert
Not more than an hour ago, I noted that one shouldn’t blink when it comes to gold’s pullback and whammo – a tremendous rally took place. How do I feel about this?
No matter how we finish, the perma-bears and the vast majority who continue to dislike and discourage gold ownership are in big trouble.
Hourly Chart via Money Talks
U.S. Stock Market – Technical’s continue to deteriorate while fundamentals are ugly and getting uglier. The “Don’t Worry, Be Happy” crowd is in full retreat and their only hope is the bears digest their gains and rest around Labor Day.
Chart via Money Talks
U.S. Dollar – The expected countertrend rally from a deeply oversold condition has indeed unfolded. I anticipate this blip up to be contained within the 50 – Day M.A. and the 84.50 area.
Chart Via Peter Grandich
Gold – The angle of the recent acceleration to the upside begged for a short correction and here it is. Don’t blink as this healthy pullback should not be long and I believe we can be testing new highs in the Sept/Oct time frame.
Chart via Money Talks
U.S. Bonds – I wouldn’t touch any maturities pass two years but don’t see any reason for rates to back up dramatically any time soon. If a corporation or person was to refinance, now is the absolute time.
Chart via Money Talks
Oil and Natural Gas – I’ve avoided these markets for months and see no reason to get long or short. I would keep an eye on the Middle East as I believe that’s a question of when, not if, it “blast’s” onto the investing scene.
Charts via Money Talks
On Major Moves, Peter Grandich has been very right and not only saved many investors fortunes, but expanded them dramatically. On November 3, 2007 at the MoneyTalks Survival Conference, Peter Grandich of the Grandich Letter warned that “an unprecedented economic tsunami will hit American beginning in 2008”. Peter advised publicly to short the US market two days from the top in October, 2007 and stayed short until the last week of October, 2008. He began to buy stocks in March 7th, 2009. He also bought oil and oil related investments near the lows after the dive from $147.
….go to visit Peter’s Website
To HERE Peter speak and others speak on Trading go HERE:
