Wednesday, July 08, 2009

Watch the markets this week

I've been harping on this stuff the last couple weeks, but if you're invested in any type of market, you need to be watching very closely his week. There's a whole lot of unnerving stuff going on that could freak out equity, corporate, and muni bond holders (think California issuing IOUs at 3.75%APR, would you take that?).

Many commodities are breaking through major support (50 day lows, major moving averages, etc.). This includes oil, gold, silver, softs, and grains. The S&P 500 is breaking through support as well. It's looking like the deflation trade is back.

Disclosure: I have basically sold any long positions and moved short the phone book.

No comments: