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Monday, May 2, 2011

This Week in Nervous Charts

I am nervous about resource positions, check out this silver chart, my god.
I am going to take profits in some of the positions, and lower my holdings of AVL, basically moving largely into cash.

I plan to stay in cash for months, and see what happens. I don't believe the dollar will outright collapse, and I don't believe we are starting a multi-month bull run of the stock market.

So instead of trying to time exact tops, I'll just opt out. My core gold miner positions will remain.

Bin laden was killed, I get nervous around such events too. Markets can spike parabolic up, then fall, but the news will focus on other things....like Bin Ladens' death.

Also maybe the USD hits a bottom WITHOUT breaking 2008 low? And that was Thursday? Anything is possible.

To the charts!

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