Friday, July 12, 2013

Still waiting after all this time

This is worse than watching paint dry. Outside of my really bad call on Gold things are playing out pretty much as expected although it feels like it is taking longer than it should. My expectations are for a late summer early fall pull back that will offer up a great shorting opportunity. We may tack on another 1000 points on the Dow before this happens though. I am out of the market right now and patiently waiting for this thing to turn and head south. Best guess time wise? Late Aug to late Nov. In no particular order the dollar is going to drop quite a bit, the stock market will drop quite a bit, treasuries will rally during the correction as a safe have to park money drawn out of the market. Gold may have farther to go down but long term I still see $2000 an oz gold. Interest rates may have already turned up but will be stalled by the oncoming recession. Longer term we will claw our way back up to 15% interest rates. That is way off in the future though. Right now there just isn't much to do. All the big money has been made in stocks and it's too late to jump on the train. There is a hell of a wreck coming looming on the Horizon and the best the guys behind the curtain are going to be able to do is stall it off until after the midterms. That's if they are very lucky.  

1 comment:

  1. Oh dear! Doom and gloom again? On top of that we have had the wettest, rainiest summer ever. Plant more beans!
    Thanks Bill (I think....)

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