Time will tell. But everything I’m observing and the analysis I find most accurate tells me to stay mostly in US$. It’s a trend that has legs as the planet unwinds from the biggest credit bubble burst in it’s history. I honestly think that gold could get to $600 and the S&P to 600 by mid-2009.
Unemployment in CA is at 7.7%, 6.1% in the USA. A lot more mortgage defaults are headed towards us. Lay-off announcements are dominating PR releases. Credit card defaults are looking to break records as well. I dont see any positive news on the horizon. I’d wait for a sign or two of a reversal before going long on anything right now. But that’s just me. I’m convervative.
