Powder Blue Report

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Thursday, July 13, 2006

A Quiet Day In The Markets

NOT! Did anyone buy gold like I recommended a few days ago? I know I sound like a broken record, but I really believe it's going to $750 in the very near term and $1000 by the end of the year. It's at $675 as I type this right now for the December contract. I'm also recommending people to start getting out of the stock market. Start raising cash. This thing looks like it could last a while. We are also coming into the worst seasonal time for the stock market. They say the stock market likes to "climb a wall of worry", i.e it still goes up when there is bad news, but this is getting ridiculous. I say get out while the gettins' good. Making 4.25% in a money market right now sounds pretty appealing.

It appears that Israel is gonna open a can of whupass on the Hezbollah, Hamas, possibly Syria, and possibly Iran. This is not good for the markets obviously. I'm just glad I don't live over in that region. What a cluster f***! These people really hate each other. I'm not going to get into a blame game because both sides share some blame, but in recent days, it's obvious that Israel has been the one provoked by Hamas and now Hezbollah. They have a right to defend themselves. We are in for a wild ride in the next few weeks and months.


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