Peter Grandich: Update

Posted by Peter Grandich -

Share on Facebook

Tweet on Twitter

20130421-barrons 1 0

20130421-barrons 1 0





U.S. Stock Market – We’re starting to see the excess that is needed before a major top can be put in. As more of these types of headlines and predictions of higher and higher take hold, the more likely we can see “the” top (but not before).

29021 c

I’ve been advocating for quite some time now that what we’ll end up seeing is a megaphone technical pattern (shown here back in January), which allows us to get to 15,000 or so on the DJIA. I suggest one consider a scale-up sell approach for general U.S. equities.

U.S. Bonds – Spend a few dollars and read the new book “The Coming Bond Market Collapse” by Michael Pento

Gold – It would be natural for a rebound to previous key support around $1,500 but there’s nothing natural in the gold market. It would be nice to think the “bad” people have done their thing and moved on but I doubt it. However, lets enjoy this rebound and then see how much the Crimenex has left in its bag of tricks.

U.S. Dollar – A 100+ yen is coming and the Euro still can’t get out of its own way, yet the U.S. Dollar Index struggles. To me, this just confirms the secular bear market for the U.S. Dollar remains firmly in place and this is little more than a countertrend move.

Mining and Exploration Shares – Dare I say bottom?