What are you so excited about? Companies continue to lay off employees, oil is at $116, food prices set new records daily, banks continue to write off billions, no one knows how bad the recession is gonna be, and there is no bottom in sight for housing… hmm maybe I am missing the good news.
I’d say enjoy the rally while you can, and if you think that the worst is over, and that main street American Jane and Joe are gonna be OK, go ahead and stay long the market.
BTW, while gold is down today, commodities in general have been SMOKING just about everything else out there.
check out MOO, GSG, XLE, USO… all at or near 52 week highs. Many piggs have recommended these stocks, and if GLD is having a pullback, no need to bash piggie advice. BTW I never recommended shorting anything here. The euro did hit a new high yesterday vs. the dollar, and while the dollar is stronger today, who know where it may be in 6 months.
