Don’t bother listening to any of the bullshit on Bubblevision, or even stuff you read on the latest financial blah blahg. Unless it’s The PPT, you are wasting your time.
Rather, you should concentrate on foreign commodity names with strong earnings paths, because the crap dollar is what’s making this thing work right now, and that will be true right through late October, early November.
You may remember, we have an election coming up?
Here’s the deal on the dollar. It’s hugely oversold right now and very ripe for a bounce. I think it gets all the way to $85 and maybe more before collapsing again. Here’s the projection:
If you are in gold and silver, gird your loins. We could see as low as mid $1100′s on the gold front, as a result of the dollar’s return to $85. “Que sera,” I says. “Suck it up,” I says. We’ve been down this road before and we certainly know it’s ultimate end. (That’s “up” for you noobs).
In the meantime, buy some PBR, or some CEDC on any pullbacks– you can’t go wrong betting on Brazilian oil or Polish folks taking to the bottle. Both are top “furrin picks,” on top of my PM hordes. Go get ‘em.
On the PM horde front, and with regard to a dollar bounce, I may sell some calls. I will certainly let you know. Right now, I am sitting, eating samiches, counting coin.
And drinking fine wine and eggsellent ales, of course. I am still on vacation, after all.
Best to you.