Update – July 9th
U.S. Stock Market – While I don’t believe I could be any clearer on my outlook, some people still don’t seem to grasp my view (their constant emails suggest this). While there shall be rallies and sell-offs, it’s my belief that the U.S. stock market will go nowhere fast and end up like the Japanese market did from 1989 on. That’s why I haven’t shorted the market despite signalling the end of the counter-trend major rally. It’s just mainly an avoid as far as I’m concerned until further notice.
U.S. Bonds -I wouldn’t touch with a ten foot pole
Gold – I couldn’t agree more with this article that this BIS news is actually tremendously bullish. Gold is indeed the most valuable asset over paper. As note previously, the $1,185 was the downside risk and we traded there twice and held. While we’re not out of the woods yet as the summer doldrums continue for several more weeks, the constant chatter gold is dead once again has allowed for a pause that refreshes.
And speaking of useless chatter, our old friend Tokyo Rose, a man who when you look up the words always wrong his picture is there, was beating his chest again in hopes after years of being on the wrong side of gold, this time it will be different. He tries to hide his distaste for real ownership of gold but every once and awhile he clearly lets his dress down and openly declares where he stands. In this article, you can actually see him note how the news was bad for the bulls. Notice he’s not including himself in that group (surprise, surprise).
He and other perma-gold bears and the media that constantly feature them will all once once again be gored by the mother of all gold bull markets. And remember, when we hit $1,300, you’re to donate $1 to the “Help Tokyo Rose” Campaign.
U.S. Dollar – The right shoulder to a major H & S top is forming. Once again, Canada has great economic news. The Loonie is not only going to par, but to at least a 10% premium. Canada may need to build a wall to stop Americans from fleeing there before it’s all said and done (I’ll be the guy wearing a Canucks jersey but scratching himself a lot).
Oil & Gas – Don’t see any major up or down move worthy to get involve with at this time.
Nice article on Taseko’s CEO
Very good article on gold
This can only help the cause at KMK
Remembering my friend the “Hawk”
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: