Thursday, January 24, 2008

General Liquidity Rally

Day Three begins. the Nippy has now turned bearish (in my opinion) against all the other major currencies. it's even losing a good amount of ground to the dollar, despite the recent fire sale at the Company Store. my long GBP/JPY trade has started to perform nicely, though I expect a great deal of volatility moving forward. another major top for the stock market in March still seems as good a guess as any in that arena, though the S&P reaching the 1550 range now seems a little rich. gold could move to $1000 in two weeks if silver breaks $17 the next two or few trading days. otherwise the metals may very well bounce around waiting for spring to climax. but who cares...all I Know is that I've now stopped selling silver when it goes up a buck or so. at this point I might not be able to get it back cheaper.