Mark Leibovit from his The VR Gold Letter:

“I wrote last week: “Taken literally, we should be looking for a top now followed by a sharp correction into the mid-May to early June period, then followed by another rally try”.  Looking at the AFM alone you would have sold your Gold at a nice profit (not necessarily at THE high) and be on the sidelines.  I did not recommend selling because technically GLD and Gold looked higher to me.” “Sure, that could change fast.  If the overall stock market rallies this coming week or next, I suppose that could be coincident with a pullback in Gold and GLD, but I am not betting on it.   Under no circumstances would I be advising the liquidation of physical Gold or Silver holdings, but would be addressing my concern to those of you who trade the futures, the ETFs or the individual shares listed  below.”

Dennis Gartman from The Gartman Letter:

“SHARE PRICES ARE HIGHER… and they will be markedly higher as the day progresses, for the world has to understand that the monetary authorities in Europe are casting down any and all concerns about inflation and are instead responding to the concerns about “contagion” instead.  New reserves… new cash… new stimulus is being pushed and will in the future be pushed into the banking system, and before that stimulus makes its way into the economy it shall make its way into equities. As we have said too many times previously, it is called a capital market for a reason, for capital that the central banks create finds its way into equity before it finds its ultimate way into plant, equipment and labour.”

David Rosenberg from Market Musings and Data Deciphering

CANADA, THE BEACON OF LIGHT IN THIS UNPREDICTABLE GLOBAL MARKET
While the Canadian dollar has taken it on the chin of late, it has really only corrected towards levels more consistent with the fair-value line.  There has been no shift in the fundamentals.  In fact, Canada is increasingly being viewed as an oasis of stability in an increasingly unpredictable global financial market.  In fact, there was no shortage of kudos in the weekend press — like The Least Band Rich-World Country: The Charms of Canada on page 14 of BusinessWeek.