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Friday, July 2, 2010

Time to take a shot

The market is still looking very weak, who knows when it will reverse higher. Friday 8:30 AM is a big jobs number, much will come of that. At about 8:45 am, worth looking at the futures.

I have witnessed exceptional strength in the gold miners in this downturn from the market highs. So I am going to take a guess that the market will rally once again, and not start the ugly collapse the charters are looking for at this time.

So I am setting stop losses on all my shorts, and getting ready to buy gold, silver, and miners. (GLD, SLV, GDX, GDXJ, SIV) Probably some tomorrow.

My hunch, which could be completely wrong, is that the powers that be who have backed every dirty trick, every reckless action, threw away trillions of dollars, have not learned their lesson.

The USD is also breaking down now. I also think this is a tell. The USD is devaluating ahead of the announcement by insiders.

Obviously, this is a gut-educated guess. Seek financial advise from a paid advisor.

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