Gotta love that 3 day weekend to allow the Invisible Hand to massage the markets. Go back and look at my post from this past Saturday and go to the chart on the dow and how I show the Invisible at its best to close out last week. Last night I posted how I was on alert with the Dollar and the Ten Year Treasury note. Technically they looked like they wanted to go higher and the stock market really did not look to promising into the overnight. All the negative news from last week and the tiredness of the stock market, that is last weeks news! Why, it's pretty simple, what else are you going to put your money in folks, everyone wants to own stocks. This is what they say on financial tv, it certainly is not me saying it!
I apologize for not posting any charts but there really is not much of a difference in any of them that are of real importance. I will stick to my belief that something is brewing under the surface on a global scale and the markets are gearing for a big move- it is too too quiet lately other than the takedown in GOLD&SILVER. The dollar finished at 8050 today and bonds were up earlier but finished the day with a slight negative tilt due to the positive tone in equities. I still feel bonds and the dollar are trying to tell us something, we just have to watch and give the markets time. In case you are wondering, I will give a quick rundown on the currencies-
The Euro is positive today, just under 134
The Cad is down and actually broke the double bottom near 99 to trade as low as 9858
The Aussie was up nicely to almost 10350
I am man enough to let you know that I am confused and I am sure you may be as well. I am just watching to see what happens next. I gave some pretty good views on these currencies last week but I would still just like to watch for the time being.
Right now I am most concerned with Gold&Silver. Gold had a decent day holding above 1600 and settling around 1604, Silver on the other hand tested support around 2920. It is nice to see that they both held up today however I am a little disappointed we did not get much buying at these levels. Again all we can do is give it time and the markets will resolve and make the next move. If you are trading all you can do is be careful. Use stops and do not rush in, the market will be here tomorrow. I think you all know and understand my conviction with GOLD but I also understand the power of the market.There are a boatload of predictions out there this weekend, this is how it always is when Gold looks the worst. Tough time don't last, tough people do- BE STRONG and try your best to ignore negativity from the "Experts" on tv that cheer stocks and bash Gold & Silver.
If you have time, please read the article I found this weekend, I feel everyone should get the truth.
I am only trying to help you see through the BS
Good Night
http://investmentwatchblog.com/retail-apocalypse-why-are-major-retail-chains-all-over-america-collapsing-sears-j-c-penney-best-buy-and-radioshack-are-all-going-to-close-hundreds-of-stores-before-the-end-of-2013/
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