U.S. Stock Market – It’s consolidating major move up and bears can’t keep it down for long. The “Don’t Worry, Be Happy” crowd have the deck stacked in their favor so barring something truly unforeseen, a new, marginal all-time high is a question of when, not if.
Gold and Silver – While there are numerous positives I’ve posted about in last couple of days, the bears still hold serve. I continue to believe if one is a buyer of gold it’s best to continue standing on the sidelines until either the low $1,500s are tested or we have two consecutive closes above $1,700.
It’s mind-boggling how open interest remains so high despite the # of shorts in silver on the Crimenex (Comex). Either they will finally cave or the shorts may have bit off more than they can chew. Stay tuned.
U.S. Dollar – The way overvalued Yen is finally descending and that has underpinned the U.S. Dollar for the time being. But when the rooster finally comes home to roost in the U.S., the dollar can make new lows IMHO. I have over 80% of my portfolio in Canadian financial institutions and in Canadian dollars – legally!
U.S. Bonds – Bernanke may have kicked the can again, but it comes at a bigger and bigger price each time. Bonds are a total void in my book.
Oil and Natural Gas – No change
Mining and Exploration Shares – Each time it appears it can’t get any worse – it does! It shall take many months and a big reversal in the price of gold to have any meaningful and sustainable rally. Until then, stock up on ant-acids like I have.
No Gold
It was two years ago when I penned this article.
Many have heard me say that retirement is a myth (actually it’s a chapter in my book,Confessions of a Wall Street Whiz Kid). Another myth created by the financial industry to sell products is living for your “golden years”. I’m sorry to say but as my article stated, “there’s no gold in the golden years”.
And as I feared, seniors have fallen prey to the horrific habit America as a whole as taken on –more and more debt.
Now, more than ever, Canadians and Americans need to break away from the bad habits of their fellow citizens and the clutches of the flawed processes the financial industry has hooked them on in various degrees of traditional financial planning that in the end, failed to achieve the objectives for most.
It took me three years of searching but I found someone in Canada who was taught like I was on a process that increases wealth, with less risk and no change in lifestyle.
If you’re a resident of Canada or the U.S., I may be able to assist you in a process that’s best suited for household incomes of $150,000+ a year and (or) a net worth of $1M+
Email me at peter@grandich.com and note if you’re American or Canadian
About Peter Grandich
Though he never finished high school, Peter Grandich entered Wall Street in the mid-1980s with no formal education or training and within three years was appointed Vice President of Investment Strategy for a leading New York Stock Exchange member firm. He would go on to hold positions as a Market Strategist, portfolio manager for four hedgefunds and a mutual fund that bared his name.
His abilities has resulted in hundreds of media interviews including GMA, Neil Cavuto’s Your World on Fox News, The Kudlow Report on CNBC, Wall Street Journal, Barron’s, Financial Post, Globe and Mail, US News & World Report, New York Times, Business Week, MarketWatch, Business News Network and dozens more. He’s spoken at investment conferences around the globe, edited numerous investment newsletters, and is one of the more sought after commentators.
Grandich is the founder of Grandich.com and Grandich Publications, LLC, and is editor of The Grandich Letter which was first published in 1984. On his internationally-followed blog, he comments daily about the world’s economies and financial markets and posts his views on social and political topics. He also blogs about a variety of timely subjects of general interest and interweaves his unique brand of humor and every-man “Grandichism” expressions with his experience gained from more than 30 years in and around Wall Street. The result is an insightful and intuitive look at business, finances and the world, set in a vernacular that just about anyone can understand. In his first year, Grandich’s wildly-popular blog had more than one million views. Grandich also provides a variety of services to publicly-held corporations on a compensation basis.
Grandich’s autobiography, Confessions of a Wall Street Whiz Kid, was publiched in fall 2011.
He is the also the founder of Trinity Financial Sports & Entertainment Management Co. [www.TrinityFSEM.com], a firm with a Christian perspective which he started in 2001 with former NY Giant and two-time Super Bowl champion Lee Rouson. The firm offers services to celebrities, athletes and average folks. Peter Grandich is a member of the National Association of Christian Financial Consultants, and a long-standing member of The New York Society of Security Analysts and The Society of Quantitative Analysts.
Grandich is also very active in Christian sports ministries including the Fellowship of Christian Athletes and Athletes in Action.
He resides in New Jersey with his wife Mary and daughter Tara.
