Wednesday, March 11, 2009

Bonds and Commodities

I think I was wrong to anticipate another bull leg for TLT. It seems to me that the attempted rally (i.e. declining rates) is pretty close to fizzling out.


Gold (GLD) is still working out a topping pattern, but think it could still make a run at $1000 again.



The EUR/USD cross (which is near and dear to my heart) is just settling in to a narrow gently declining channel, and honestly I've no idea what that means...I'd like to see it decline to 1.20 and beyond, but 1.24 seems like a pretty solid floor at the moment:



I am 100% CASH for the moment, awaiting data on what kind of bounce stocks will be getting. I am still very bearish, looking for bear entries.

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