Unfortunately, I didn't have time to do some in-depth writing tonight. Just some thoughts for today's post. Friday closed pretty strong to the upside. The various pay bloggers I listen to have varying viewpoints, which is expected with the market being so erratic.
I'm trying to not buy the gold miners at this level still, since I believe we could be close to a short-term bottom and the "fear" comes out of the market, sending gold plummeting. But I still HAVE gold miners, just not as big numbers in force.
My hope is the miners retrace down, GDX down to 25 or so, and I re-load the miners for my near-final play for the next year or so.
But who knows, maybe now is the best time to buy, the skys the limit! Hence why I still have some positions open.
I have some long plays, and I'm buying some other stuff long. Still like Oil long, food, and natural resources. This past weekend Obama lifted the stem cell ban, so some health care companies may get a small rally.
In general, trying to add positions (again) for my looooong over due rally, that I have been hoping for for over a month now, which means I could still be wrong.
Some news today:
World Bank offers dire forecast for world economy - My Spin - Now that the world bank says its bad, its gotta be close to a near term bottom.
Overvalued euro set to plunge 'within months' - My Spin - As the world collapses, the US may get a nice spike up, as the US looks "not as bad" as the world. After all, the USA lead the way down, and the rest of the world is just now playing catch0up.
More FHA-Backed Mortgages Go Bad Without a Single Payment - My Spin - And it will continue for year(s)
And I swiped from Mish's post the image below of the unemployment trajectory. My thought is its gotta have a counter movement before continuing to 15%.