114 Million Reasons!

Hope everyone is enjoying the weekend thus far. I am truly sorry that I did not post late Friday and comment on the rest of the days action. Saturday was a day to get some things done around the house and I usually take that one day and try not to turn on a computer at all. Up early and ready to go this Super Sunday, ready for the game and ready to take a couple of jabs first thing in the morning.

Please do not hold this against me, I am a New York Yankee fan and that leads me to the title of this post. I am not going put his name on my site and give him much attention but I must say that he has 114 million reasons to deny and lie to his grave about these latest allegations. Over the next 5 years the NY Yankees are due to pay this EGOTISTICAL little man $114 million dollars. Enough about him but he would make a great fit on Wall Street!

If you do watch financial television, you have been given what seems to be 114 million reasons for the stock market's latest rally and why it will keep going. I say if you have an interest in the stock market and need to check the ticker during the day, fine but hit the mute button so you don't have to listen to the BS that is being spewed out of the mouths on the screen. How many different people do they have to run out there each day to make a prediction on where they think the market is going? One thing I do know is that the same people or "EXPERTS" as they are called, are the same ones that were telling us how good things were in the late 90's and in 2007, they are still there telling you the same thing!

Ok, I took my jabs, onto the markets and my take. 14000, we got it - golf clap as I shake my head!
The dow was there in the first hour of trading and really did not do much for the next 6 hours. Gold on the other hand ran up just about $20, only to be beaten back and finish the day at 1670, the invisible hand once again did a great job.

Impressive market, I'll give it that but I could you 114 million reasons, well maybe not quite that many, for you to start thinking about managing your hard earned money and pay attention to what is really going on. Gold is going up for 12 consecutive years because of DEBT! The debt situation is projected to grow by another 4 TRILLION dollars by the time we have a new president. This is the main reason I say the market in GOLD is built on a solid foundation. Stocks may keep going up for the short term but given the prospects for global growth and the GLOBAL DEBT PROBLEM, the rally in stocks is UNSUSTAINABLE in my opinion.

No charts from me this weekend, they really are the same as what I have been showing. The Aussie Dollar, in my opinion looks terrible based on the price action from Friday and the Cando hardly moved. I am hoping that Gold holds 1660 area and Silver looks poised for an upward thrust. One event that could shake the markets up later this week is the European Central Bank meeting on Thursday. Maybe Draghi, the ECB's president will wake the world from LALA land and remind us that Europe is still fighting their debt crisis. Stay tuned folks!

I'll stick my neck out there today- Niners 34  Ravens 27

Thanks for visiting, Enjoy Super Sunday!