Tuesday, August 23, 2011

Side And Gold Money Is Coming In

SGS is Neutral (as of close of 8/9/2011)
RTS is in CASH (Bench Mark)
My Long Term Portfolio
I'm 50% in (IWM, QQQ, SPY equal $)

Although short covering added fuel to today's rally, but it was side and gold money that propelled indices around 4% higher.  Volumes both on NYSE and NASDAQ were high, breadth was fantastic and buying volume accelerated toward the close

Yesterday from 9:00 to 9:30 Jimbo the CNBC clown, per orders from his master Big Money,  ran  his mouth non-stop "recommending" everyone to sell their stocks, "specially their tech stocks", and buy gold.  Somethings never change.

Market looks good for now.  I'm not sure how far we go up, but a test of very recent highs around SPX 1200 - 1210 is very much in the cards.  SGS is still neutral but flashing "Long".

Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.