Market Comments & News

www.stratfor.com:

http://www.stratfor.com/weekly/20100510_europe_nationalism_and_shared_fate?utm_source=GWeekly&utm_medium=email&utm_campaign=100511&utm_content=readmore&elq=5ae084d2d89e448f813e47750cb35884

Jim wrote:www.stratfor.com:

http://www.stratfor.com/weekly/20100510_europe_nationalism_and_shared_fate?utm_source=GWeekly&utm_medium=email&utm_campaign=100511&utm_content=readmore&elq=5ae084d2d89e448f813e47750cb35884

There is no need to align a common EU identity (by culture, language, etc), instead they are already tied together economically and they will never be able to separate again economically.

Richard Russell said in his last Letter (in May) that if the lows of May 7, 2010 are violated (indu: 10,380, tran: 4,298) the bear market would resume big time. Those lows have been violated, and both at about the same time, which makes the signal that much more powerful. There has been a nice bounce from that point so perhaps the big move down could start at any time.

Russell recommends selling all stocks except gold stocks.

http://stockcharts.com/charts/gallery.html?$INDU

http://stockcharts.com/charts/gallery.html?$TRAN

Looks like Sinclair is ready:

http://jsmineset.com/2010/06/15/practice-what-you-preach/

Silver is close to the 10+ year high of $20.79 shown on the Kitko charts.

From the 1 year chart, it looks like it could be overextended. To me, it looks okay on the 3 year chart.

http://stockcharts.com/charts/gallery.html?$SILVER

Challenged countries in a food crisis:

http://www.businessinsider.com/nomura-food-crisis-2010-9

Looks to me like oil is just consolidating:

http://stockcharts.com/charts/gallery.html?$WTIC

Looking good:

http://stockcharts.com/charts/gallery.html?$HUI

I replied here:

https://goldwetrust.forumotion.com/precious-metals-f6/silver-as-an-investment-t33-255.htm#3769

From www.jsmineset.com:

http://www.martinarmstrong.org/files/Nice%20Try%20but%20No%20Cigar%2010-9-2010.pdf

From Dan Norcini at www.jsmineset.com:

Two charts, the gold/bonds ratio, and the Dow Jones-gold ratio:

http://jsmineset.com/wp-content/uploads/2010/10/gold-bonds-Dow-ratios-10-20-2010.pdf

From www.jsmineset.com:

Armstrong's work points toward the general market going up from here for a few years:

http://www.martinarmstrong.org/files/So%20You%20Thought%20Stocks%20Only%20Go%20Up%20in%20Boom%20Times%2010-31-2010.pdf

Point and figure has it bullish to 775:

http://stockcharts.com/charts/gallery.html?$HUI