Jun 14

The Market Today


It was a rather boring day, until the final hour. The market spend most of the day humming right along, positive, but steady throughout the day. Then, at 2pm cst, there was a rumor from Reuters news that came out saying there would be a coordinated effort by the worlds central banks to provide liquidity for the world’s markets, to prevent a major decline, and/or loss of confidence. This sent the market screaming ahead. As I have mentioned in previous posts, this is the only positive catalysts that are out there. The only problem, it is very short term in nature. It will undoubtedly push the markets higher in the real short term, but this is a very negative event for the long term. This is another kick the can down the road measure, and the road is becoming much shorter. When it becomes time to pay the piper, things are going to get significantly worse. This being said, I would wait to see what happens tomorrow, and through the weekend with the Greek elections. Should these events cause the markets move higher, I would again, use this opportunity to take profits, hedge, and short the market for short, and medium term profits. The only place that I am bullish is gold and silver. I would add significantly to gold and silver. With all the money printing the central banks will be doing, this is real bullish for gold and silver. There will be so much to watch over the next couple days….stay tuned…

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