Thursday, July 25, 2013

One Day, One Number

It's early Thursday morning and I will be quick. First I would like to apologize for not writing last night like I normally do, something came up personally. My last post I showed and wrote about how bullish I was on OIL and GOLD. Just because we got a stronger than expected new home sales number and the markets get thrown into a tizzy over one number, does not mean squat at this point.

Markets will have their up days and they will certainly have their down days, that's the way it is supposed to be. Even the US equities are in the red! Watch the US $, yes the Aussie got beaten with a stick yesterday but have you noticed the EURO hanging around the 132 handle and the CAD hanging tough at 97. No matter which direction the equities go, the EURO looks poised to go higher towards 135+. If equities avoid collapse the CAD and Aussie are great buys in my opinion!

Take the TAPER talk and throw it out the window, PLEASE. Watch the US dollar and this will be your deciding factor if GOLD & OIL are going a lot higher in the coming months! Will we have down days in GOLD of $30-40, sure-it has always been that way and OIL will have days where it is down $2-3 or worse. Stick to your convictions when things are bullish and buy the dips but be smart at the same time, use stops and do not rush to buy every dip. Lets see if Gold holds $1300 today and OIL 10425. I'll be back this evening.

Have a great day!
Martin

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