Thursday, February 4, 2010

Whither the Markets?

American markets are headed down after the predicted dead cat bounce.  Canadian markets are hanging in there but we are commodity driven so be cautious.  Oil and gold look to be tanking.  Best to be in cash and spending your time analyzing what you want to buy and at what price it will look cheap.  The ironic thing is that the U.S. dollar is strengthening even though the printing presses are running overtime.  Why?  By default.  The Euro is threatened by sovereign debt issues, the Yen is a deflationary, scandal-plagued currency, and the Canadian & Aussie bucks are commodity-based.  Thank Buddha for inverse ETF's and VXX or I'd have nothing to do but plague my readers by blogging all day!