Tom, that money supply chart is just a scary as YHOO chart. Gold has decoupled from both N225 and Dollar, very bullish.
We have Asia, part II unfolding, but the equity market for now is ignoring it. Major divergence. Many t/a'ers are saying the A/D line is to strong for the market to collapse now. Yes, but they are ignoring the Asian a/d line, which has stunk up the place for almost 9 months now (about the time that the a/d line in 87 and 29 were in a down trend)
Equity blow-off should be fueled by foreign money looking for a home and safety thru rising dollar - Gold should get it's share also! Shouldn't the mother of all market peaks have every index at new highs? even the lowly precious metals.
Don't forget mom and pop speculator, taking cash advances on their credit cards to buy Yhoo (up 62% for March) & DELL, because this market is "SAFE" and only goes up. I know a few that are doing just this.
IMHO we are within just a few weeks away of a major market peak (from my estimates end of April, Dow 9700 - 10,300 area) and I feel Gold will crash-up, as this worldwide FIATsco falls apart.
beara sez, April 1st will be called Greater Fools Day from this time hence.
pray a lot,
I think, I'm right |
