Is the stock market addicted to the FED? QE Infinity? That is what would seem to be a positive posture if the DOW is to keep from puking up all those Zombie gains so far. But just the mention of easing the phony stimulus and Mr. market takes a dump. Problem is that this scenario is subject to the law of diminishing returns. Not only does supposed good news bode poorly for stocks but sooner or later upwards to 100 billion new money created will deep six our currency , either through out right inflation or a backlash from other nations who will eventually run form the dollar. Right now we are seeing an extremely profitable situation in precious metals. Of course most will miss the buying opportunity figuring it will go lower. Technically gold looks close to the bottom. Maybe down to $1100. I am a cautious buyer here of gold and palladium, silver soon. Any buy at or close to melt value of bullion, of US gold or silver coins, I am a buyer here.
Posted on: Sun, 30 Jun 2013 22:06:59 +0000
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