I took a BEATING on this one. I am in defensive positions, trying to wait to see how high this market goes. Unfortunately, I am of the belief the market will fall harder the higher it goes. The ONLY thing that can stop that from happening is permanent devaluation of the USD. But that will lead to outrageous prices for natural resources.
It seems the recent part of the rally is forming a triangle, marked in hot pink. We'll see if breaking up or down causes the market to jolt significantly. I can't advise going long, but if you must, I suggest gold miners.
|From WebSurfinMurf's Financial Blog|