Market trading in a tight range. It will break out up or down any day now.
All market index technical indicators are still unwinding from overbought. 50-50 chance for up or down day today. If I had to guess, then I would guess UP for today.
The market continues its back and forth onward to nowhere action overall as the right shoulder action is on. SP watch 875 resistance at the top and 829 down to 800 support at the bottom.
I am long Gold Mining Stocks, Agricultural Commodities, Oil, and Platinum. I am PLACING MY BETS BASED ON:
(1) Guaranteed massive future demand for commodities from China/India and the rest of the world.
(2) Guaranteed Stimulus TRILLIONS flooding the economy. The Feds mantra has been “We will do WHATEVER it takes to make the economy recover.
(3) Guaranteed inflation, as the whole world prints TRILLIONS of dollars to keep global economies afloat.
(3) Guaranteed devaluation of all currencies against ALL hard assets commodities and EVENTUALLY real estate.
(4) Guaranteed massive future global demand for oil, and energy in general.
(5) Guaranteed LOWERING standard of living relative to CHINA, INDIA, and THIRD WORLD countries Guaranteed standard of living going UP.
We KNOW that $50 Trillion of Wealth Vaporized in the last 2 years... something to keep in mind.
WE Know that the US has 12 trillion in Debt, growing at a rate of one trillion a YEAR.
THINGS WE KNOW FOR SURE: Death, taxes, government pork barrel ripoffs, fat-cat corporate rip-offs, and inflation. We need to place our bets and do our investing ALWAYS KEEPING THIS IN MIND. Forget about what the government says about low inflation – it is BS!
Commodities are automatically a great way to play ALL of these KNOWN GUARANTEED UNSTOPPABLE megatrends SAFELY AND SIMULTANEOUSLY.
LOOK AT THE ACTION IN GOLD AND OIL AND COMMODITIES TODAY – ALL MOVING HIGHER TOGETHER. VERY INTERESTING!
Happy Trading!
Alex
