I think the public is getting awfully excited. Make of it what you will.
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As suspected the surge in USD/JPY and Nikkei is causing global
markets to factor in an inflationary boom. World bond markets and
interest rates are showing a change in trend. Banks and housing remain
very strong while most commodities are making all time highs.
the S&P 500 has started to stall at resistance levels the past few days (Editor's Note: this was written Thursday), I
am out of the VIX calls because I only suspect it will be a pullback
and nothing more. I am thinking it will be the last pullback before the
market truly takes off.
While I hate to be so sure of
the future, every single market that factors in inflation is looking
very strong while bond markets in my eyes have started topping out. Now
the only thing left in a huge inflationary boom is the fall of the US
dollar and the rise in silver and gold. You can take your bets now if
you want, but I need to see the chart's confirmation before I place my
bets on those.
Well, here we are. LDI is making money. Bernanke can do no wrong. Obama is in his second term. And Karl's whistling didn't do a thing to stop it. We are fully on the other side of the looking glass. Oh, and if you are wondering where Wave 3 is, he's hanging out with the Easter Bunny and the Tooth Fairy.
Below is a copy of this week’s free eLetter that went out this morning.
Goldilocks Ends & ‘Currency Wars’ Begin
Amid continuing inflationary policy, the US Dollar is at a critical
juncture by both daily and weekly charts. Euro targets 142+ and the Yen
approaches our target. Currency war kicks off; gold just sits there
From last week’s eLetter:
“A Goldilocks atmosphere was expertly created in large part due
to the fact that Operation Twist (yes, we are still dealing with its
effects) by its very definition held long-term interest rates down
(buying long-term T bonds) while sopping up any money supply
implications and inflationary signals by sanitizing the process with the
sales of equal amounts of short-term bonds.”