1:06 pm (Hawaii) That's right. Yesterday, Brian Kelly said that if the FOMC says very little (no QE3) and the market runs to huge gains, that's the time to buy with two fists.
I forgot about that until now. Now, Kelly didn't assume the market would run high, but he anticipated it. I wonder how thin the ice is. I sure don't expect the market to automatically rise here. Not with Euro land still dismal.
I may dabble here and there in AAPL, BIDU, GSVC ... but I continue to lean toward physical gold and DGP. I won't go all in on gold, but I'd rather set up for the move than chase. Or simply sit out. At this point, I'd love to grab some FAZ, but I won't do it until today's honeymoon vibe runs dry.
And if spot silver continues to drift lower another day or two, ZSL will be very interesting. The lack of buying pressure will encourage the CME mafia to bury silver as deep as possible. I'm long physical silver, but there's no doubt the puppeteers have made silver a top priority in their whole kneecapping scheme.
Brett Arends put it like this during Kudlow's program:
"This is forcing people to buy risk assets. We've seen what's happening with gold. What's interesting about gold, although I have no way of evaluating it with confidence, when I ask who has gold, I'm amazed how few people actually have it. I suspect gold could be heading a lot higher as people realize they will be getting no interest on cash for another few years."