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  • I'm Bullish on Everything (Except the Dollar) [Edit or Delete]1 comment
    Jun 21, 2011 9:27 AM
     Stocks are surging yet again for a 4th day in a row. Oil up a buck. Euro rallying. There’s no denying that the risk trade is officially ON, and these gains will certainly hold.

    Check out this chart: treasuries and stocks are rising together.

    http://finance.yahoo.com/q/bc?t=5d&s=TLT&l=on&z=l&q=l&c=dia

    The dow is up 270 points in just 4 days and TLT is not falling. Amazing, huh? As contradictory as it sounds I’m predicting for the remainder of the year munis, treasuries, stocks, and commodities will rally together because the global economy is awash with soooo much liquidity that everything in sight is being bought and propped up (except the dollar, obviously). Surging California tax revenues is great for munis, huge BRIC surpluses are great for treasuries, and huge global growth is great for commodities & stocks.

    The recovery is in terms of profits & earnings, exports, productivity, twitter and facebook.

    Stocks are cheapest they have been in nearly three decades: http://www.bloomberg.com/news/2011-06-19/stocks-cheapest-in-two-decades-as-s-p-500-falls-with-earnings-climbing-18-.html

    No job creation in this econ boom. If you can’t find work it’s cuz you’re a loser. Wall st. needs to recover first, and then mainstreet can recover (if ever) after waiting its turn. 

    S&P 500 companies are deriving larger percentage of sales internationally, which means high unemployment doesn't have the same detriment as it would have had a decade ago. We can have falling home prices, 10% unemployment, and 52 week highs every week. 

    So now is the time to be bullish on everything (except the dollar) with two hands on the buy button. 

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    Any opinion on PM's and commodities?
    21 Jun 2011, 10:34 PM Reply Like
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