Thursday, October 21, 2010

The mid-term Elections and the status quo.

 

We are fast approaching the mid-term elections on November 2nd and, from everything that I’ve seen, nothing will change after the dust has settled.  The headlock that the Democrats and Republicans (two political parties that are entirely interchangeable) will remain and Americans will simply replace one tax-and-spend politician, looking to line his or her pockets with money and power, with another.  The Libertarian candidates across the country, over 800 strong, have once again been almost completely ignored.  Nothing’s changed.  America is a country of addicts, addicted to fighting for the crumbs that our government offers them in exchange for keeping their good ship “Duopoly” afloat.  This is the end result of generations being taught by government controlled schools and the union-backed teachers in them.  “The road to hell is paved with good intentions.”  We’re firmly on that road and the dead end that we’re rapidly approaching will be the necessary event that will finally shake Americans out of their drunken stupor and realize that, for nearly 50 years, we’ve been selling our souls to the devil and now the devil is here to collect the “balloon payment” on the note. If you think the last 4 years have been rough, you ain’t seen nothin’ yet!

Dale F. Doelling, Chief Market Technician

Wednesday, August 18, 2010

Dennis Gartman is an idiot!

I could never figure out why market analysts or advisors feel compelled to make statements about tops or bottoms in markets. 99% of the time, they're dead wrong. Dennis Gartman recently told his "clients" to sell all of their Gold. I looked at the charts, the moving averages, Fibonacci numbers, just about everything I could think of, and I couldn't find any justification for Mr. Gartman's statement. So, I told my clients to ignore this nonsense and stay the course. Now, Dennis was right short-term because Gold did see a retracement to close to the 200-day MA. But the closer Gold got to that support area, the more I recommended that Gold be BOUGHT. The market is currently trading at 1229.1 and is about $35 below the all-time high. I don't make predictions about markets or prices but, after being bullish on Gold for over 6 years, I see no reason to change my position now. How high can Gold go? $1350? $1500? 2000? Higher? I don't know. Only time will tell.

Dale F. Doelling
Chief Market Technician
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