Friday

Dow Jones, Forex, TheInflationist StockPicks

Dow Casino: Place Your Bets

TheInflationist have sat out of the action this week - patiently waiting for an opportunity and a clear signal to fire. We just opened a long position in Dow at 8095, $10/point with stop of 150 points. Our indicators suggest Friday will be a rally. Market is down 0.7% at the moment preopen - again, it is rare for the market to move in one direction for the entire session. Having said that, 0.7% move is negligible - it may try to test the 8000 mark. We referred to the Magik Numbers to guide our entry today - support being 8070, we weighed the pros and cons and thought 8095 was a worthwhile gamble! We also shorted Euro/Aud (mini) at 2.017.

TheInflationist still believes that we are in a rally for a few weeks to months before the next leg down. Raise cash, and have a position in precious metals and gold in line with our hyperinflationary views.

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