7/17/2011 9:53:00 PM

Hello Everybody

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Trade Actions:

Nothing at this time. I know I did not actually put a buy recommendation on a Gold ETF, but I threw out enough information that if you were already long a couple of metals to use your own judgment on owning another metal.

Market Outlook/Potential Opportunities:

Unbold is last week's commentary. Bold is this week's commentary.

Stock Market?

The rally phase of this market appears to of started. We are going to try and get on board here as I am looking for a two or three leg up move heading through September. This could though be the final hurrah for this Bull Market that started in March 09. So we have to be nimble here.

Put in a Limit Order to Buy QQQ (Nasq 100) at 59 or Better. You should now be long the QQQ.

Energy?

Long term Oil is setting up a very bullish case. Maintain USL as a core holding thru thick or thin. With Middle East violence heating up and the monthly chart on Oil looking good, we have to stay with it. Also we must maintain some position on the inflation front so we have to stay with it. Oil is overextended but looking like it is going much higher. Speculation is not driving Oil higher. The collapse of the Dollar is.

With the fear of Nuclear Energy, it is possible that we could now have a renewed interest in Solar Energy so we Bought Market Vectors KWT (Solar Fund) at the Market.

I was expecting Solar to trace out a pattern similar to oil, but the Solar is taking it on the chin along with the stock market. With the Stock Market nearing a bottom, let's try to stay with it a little longer.

I still feel long term oil is a good place to be, but shakeouts of weak hands are always needed in Bull markets.

Crude could be in for one more leg of downside action here but after that is complete I see nothing but upward action. Need to hang in there because you can never tell were the exact bottom might be.

Metals???

The correction in metals appears to be over but I do not expect big moves at this time. Look for all the metals to grind higher.

Key Reversal Week in all of the metals are going to put more downside pressure on them. Be careful of going short to take advantage of it. Those who are not long metals should be averaging long into this leg of the break down. If you wait for exact bottoms you might miss it.

Palladium is bucking the downward trend. Looking bullish here.

All metals are BULLISH here. If you are not on board any of the metal markets by now, your opportunity will be gone. Palladium is tracing out a Bullish pennant formation on a Weekly and Monthly chart. Gold is breaking out. Silver is flashing a Buy. Get long the metals here.

Did the Fed Bernanke actually say that Gold is not money? Oh my Lord we do have fools running the show.

Bonds?

Who in his right mind would buy bonds in the face of Inflation and a Falling Dollar? Stay with this one. I still feel that bonds are on the verge of trouble.

This market is going higher than I would expect but I am staying with it. It has me scratching my head but I believe it is about to turn. Remember I said the end of May it should turn. Alright possibly June.

The end of QE2 has ushered in the end of the Bull Market in Bonds. Stay with TBT as interest rates should now start moving higher.

I guess Bernanke has QE3 up his sleeve.

Currencies?

The theme for 2011 will be the rising value of the Chinese Yuan. We bought the Market Vectors Chinese Renminbi (Yuan) Exchange Traded Note that should rise in value with the Yuan. I strongly believe the Yuan will be the place to be this year as the Chinese will need to export their inflation over to the US. I still believe this to be the best trade on the board. The US dollar is failing badly. The Euro with their share of problems will soon follow. Look for the world to turn to something else. Metals and the Yuan.

Still at this time we are putting in a stop.

Commodities?

Grain prices are going lower but I would not be surprised to see them shoot back up after July Options are over.

Correction in Grains appear to be over. DBA has gone through a classic Elliot Wave correction of 3 legs down and 2 up in a Bull market and should now advance higher. We are once again long DBA. This is a grain focused ETF.

The Livestock market is looking bullish here. We are putting in a Limit order to buy COW at 29.85 or better. We are now long COW. This is a Livestock ETF. Keep eating those summertime BLT sandwiches. Grill out some more also.

Current Short Portfolio:
None

Recently Closed Positions
None

Thank You

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