Weekend Wrap

It is 6 AM and I am getting ready to hit the greens with my father-in-law and his dad who is on vacation from the northern snow, I have been looking forward to this day for quite some time. This week has come and gone and you are greeted with headlines like this
Dow Posts Record High; Stocks Up 2% for Week

 And, They're Off! Market Bulls May Keep Running 

All the while Gold finishes the week basically unchanged just shy of 1580. Here is a look at the price action

We did break below 1570 and touch 1560 but no lower than that as strong buying, possibly some short covering took place as the market could not breach lower levels. I still would have liked to seen a move through 1585 and a hold of that # to close the week. You will know which way she wants to go when she is ready to move. I did not think we would break 1630 to the downside so your guess is as good as mine!

As for the job number. 236,000 jobs created for the month of February and a surprise drop in the unemployment to 7.7%. Into some of the details, again please understand that over 100,000 people have left the workforce for the month-they have simply given up all hope of finding work.The # of people working 2 jobs increased to 340,000-gee, I wonder why? Full-time jobs decreased by 77,000 while part time jobs increased by 102,000. Thank you Turd Ferguson for your help.

Again go by the headlines and the headline #'s and you are being fooled. I am here to help you see through the BS. The house of cards will come crumbling down, the question is when and no one knows but we can be smart enough to prepare for the worst. Boy Scout motto- "Be Prepared", that is a good life lesson!

Enjoy the weekend guys and gals.
Thanks for reading
Martin