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Thursday, November 12, 2009

New 52 week highs....barely

Today the US stock market made new 52 week highs, with S&P 500 making a new high at 1105.37.
Also the USD dollar made new lows, and gold miners made new 52 week highs.

At this point it is clear, there in only one stock, and that is the US dollar valuation. As the Dollar falls, the markets rise and vice-versa.

I am sticking with GDX needs to close above 50.50 for it to be time to buy more miners OR when gold miners retreat to the bull trend line, about 44.

I can see the Dow Jones hitting 12,000 or 13,000 now before rolling over.
But its all dicey from here.

From WebSufinMurfs FinancialBlog2




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