Everybody's Talk'n

Sorry to all my valued readers for not having a post this weekend. Was it because I have no clue what to expect going forward with these markets? Not really, but I must say that trying to make decisions everyday with these markets is certainly not an easy thing to do especially with all the Central Bank meddling going on these past few years. I have stated here several times that when the house of cards come crumbling down, it will not be pretty and alot of people will be surprised by it all and lose lots of hard earned money. Just look at how quickly the S&P has lost over 100 points

I was laughing last week at a HUGE hedge fund manager's comments on CNBC, I will not mention the name. His thoughts were simple, if the FED does taper its QE program, it is good for stocks because it will signal that the US economy is doing good. Gee wiz, that is brilliant advice! Now let's watch the upcoming economic data out of the US, if the data is poor- STOCKS will rally on the basis that QE is here to stay and if the data is good, we do not need QE- IT'S Easy folks, buy stocks no matter what, it is a win win for everyone! Base your investment decisions on that concept, let me know how it works out for you!

Now we will take a look at the 30 year Bond.

Wow, I have been watching very closely and have voiced my opinion that the FED would march out their goons to start chirping in front of the microphones if Bonds started to wake up with rising interest rates. Since Friday we have heard from 4 FED members. I will not say much, but look how Bonds bounced 2 full points today. Read this story if you would like to see what the Fed members have had to say that caused a halt to the slide in bonds today.
http://www.cnbc.com/id/100840080

I promised to chart the currencies over the weekend and I apologize for not doing so. At this point, the US dollar is in a range between 8050 and 8450. The Cad & Aussie have been taken to the woodshed and I honestly have no feel right now whatsoever. The Euro dropped below 131 today, for the short term, maybe we are headed back up but I wouldn't bet on it. The Yen should be headed a lot lower but if the global equity markets continue to unravel, the Yen just may strengthen due to THE CARRY TRADE-selling Yen and buying stocks. Sorry to be so vague but these markets can go either way at this point.

As for GOLD, I am amazed at just how ugly the chart still looks, there just seems to be no interest within the trading community. I have mentioned the 1250 number, we will just have to watch if this # can hold, if it does not- it appears that GOLD can trade substantially lower, maybe we are headed to $1000, nothing would surprise me at this point! The one thing Gold has going for it, is that Dennis Gartman was out there today saying that GOLD was nowhere near a bottom! I love that guy,lol.

We are approaching the 4th of July holiday and I will not be posting as much in the next couple of weeks because I feel that the markets will not see much activity with a lot of traders taking vacation time. If the markets do surprise me with lots of action, I will do my best to bring you up to speed. Other than that, all I can say is be safe if you are trading! Bare with me for the next couple of weeks, I appreciate all of you that care about what I have to say.

Thanks and Good Night
Martin