TWSInvestments's Commentaries
Mar
17
2010
Global Markets Up, Waiting on Gold for a Trade
by TWSInvestments
Overall Rating:
Tokyo was up 125 points last night gaining 1.17% after the Bank of Japan doubled its lending program to $221 billion. London is up almost half a percent in early trade. US futures are trading marginally higher pre-market. I took a few longs overnight (LVS, FCX, V, AGU, GLD) and I'm looking for momentum continuation today.
Jim Rogers believes the euro is destined for failure in 15-20 years. He is currently long but he says, "We've had currency unions in history, they didn't survive, this one won't survive either". For the US, he is certain of one thing: "Yes we're going to have another recession, I guarantee you. Certainly by 2012 say, it's time for another recession". (CNBC) -I didn't really want to hear that. Let's hope he's wrong though I fear he's going to be right.
I'm waiting on gold to break through the 1,140 area before it really gets rockin' again. The consolidation action above previous all-time highs has been very healthy. A move above the trendline would signal a change in the short-term trend and I will get much more aggressively long.
Jim Rogers believes the euro is destined for failure in 15-20 years. He is currently long but he says, "We've had currency unions in history, they didn't survive, this one won't survive either". For the US, he is certain of one thing: "Yes we're going to have another recession, I guarantee you. Certainly by 2012 say, it's time for another recession". (CNBC) -I didn't really want to hear that. Let's hope he's wrong though I fear he's going to be right.
I'm waiting on gold to break through the 1,140 area before it really gets rockin' again. The consolidation action above previous all-time highs has been very healthy. A move above the trendline would signal a change in the short-term trend and I will get much more aggressively long.
Tags: market-analysis
