Slider's vision is 20/20 looking in the rear view mirror:
"Commondities have been beaten down, gasoline prices have collapsed, Oil has fallen, OPEC now considering production cuts (that doesn't wash with Simmons Peak Oil Armageddeon now does it?(vbg), Nat Gas fell by 2/3rds over 9 months and the Dow is off to the races with the US Dollar recently running to 10 month highs...and bonds deep in the money since May.
My, my... how things have changed.
-- whodathunkit?"
Now, tell us something we don't already know. Oil, natural gas, and gold are all putting in bottoms, or in the case of natgas, already bottomed, on the charts, and you're still pounding the table on past trends. Bonds and the US dollar have had their rally and topped, and beginning a free fall.
--- whodathunkit?
Financials (XLF) and broker dealers (GS, MER, IAI) have all had their run, with the market convinced Fed rate hikes are over, and possible rate cuts are coming soon. Its too late to go long, and too early to go short financials, based on the charts here.
Investing in Chinese banks and/or financials may be worth considering, but anyone chasing momentum is a fools game here.
Anyone thinking a new Democratic Congress can suddenly balance the federal budget by repealing Bush tax cuts, and solve the problem of the huge US fiscal imbalances, is naive. The country has no solution to the demographic Medicaid/Medicare freight train coming down the tracks. The only solution is monetize the debt, print more money, fool today's voters, and pass the problems on to the next generation. Paulson, Rubin, et al have no magic wand, no more rabbits in the hat.
And the host's attitude towards Peak Oil theories betrays a biased opinion, and frankly does a diservice to honest discussion with his patronizing attitude towards the subject.
tomorrows headline will be:
"I see dead US dollar long speculators"
---whodathunkit?
:)
from praha4 |
