Gold, oil, oil services, silver, agricultural stocks, etc....., they all started to roll over today. This should cause money to flow back into treasuries for a week or two. This run has ran its course in my opinion. Also, the dollar rebounded sharply today, its chart is turning up as well.
Yesterday I turned my Norwegian Krones back into dollars for a 5% return on my money. I plan on waiting for a rebound in the dollar, and then I am looking at the Australian dollar to invest my money. Fundamentally, I think that the N. Krone is the best long term place to store your wealth, if you have to be in a currency, but short term, the return on the Australian Dollar looks like it will be better.
Gold should pull back into the 925-930 range were it will be attractive again. I believe that after this pull back that we will then push through the 1000$ mark, maybe by September.
Treasuries is the one investment that changes everything. If the rest of the world gets really concerned about our currency, and our ability to repay our debt, there will be a massive sell off in treasuries, the dollar, and U.S. Stocks. I do believe the this will be the ultimate out come, and I am watching it like a hawk. Until then, there is plenty of money to be made trading this market.
Looking forward to Friday's jobs numbers for a direction for the markets. If there is a large improvement on the number than we could surge to the 10000 dow mark and 1050 on the SP. I dont see it happening though. I think that the poor numbers are going to persist.
Cash21
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