Or in the words of Captain Jack Sparrow. "Drink up me hearties".
The FOMC just gave the green light to every hedge fund manager between here and the planet Mars to cram every bit of leveraged funds they can borrow or beg into the commodity sector and the equity markets.
Gold soared through overhead resistance at $1680 as if it was non-existent. Silver shattered $32.50 rebounding over $1.50. Crude oil is now back over $100 and gasoline just soared another $.05/gallon. Gasoline prices alone have now rallied 40 cednts a gallon since November. Get ready for more pain at the pump. Here we go again!
The CCI shot up; bonds rallied over 2 full points and the US Dollar just got clocked. RISK ON - who gives a crap about European sovereign debt woes or Greece or anything. Free money - more free money - and even more free money.
"God Bless the Fed" is now being heard around the lunch tables at the restuarants as hedge fund managers raise their glasses of Chablis to toast their new found prosperity.
Woohoo! The economy is fixed now! Thank You Uncle Ben!!!
ReplyDeleteExpect for more surprises this year. But no matter what happen, gold will always be there.
ReplyDeletegold parties