"U.S. Stock Market – Because the most recent highs in the DJIA were within a fair range of the top I anticipated when I first noted this megaphone technical chart last January, I've stated there isn't that much upside potential left to warrant staying aggressively long general U.S. equities. While not suggesting a crash or dramatic decline anytime soon, it's my best guess (because guessing is all any of us really do no matter how sophisticated we try and make our work look) that very limited exposure to general U.S. equities is the way to go until further notice.

I do want to stress however (however is a word many strategists can't live without), U.S. equities are likely to be the lesser of two evils over bonds for some time to come and therefore can be anticipated to find support after meaningful declines. Knowing virtually all financial advisers have some sort of membership and/or allegiance to the "Don't Worry, Be Happy” crowd that makes-up and controls Wall Street, you should always realizing that these folks will never ever abandoned stocks or bonds or both in any meaningful matter. Remember, you can toss the lot of them off the top of the Empire State Building and all the way down they shall all say the same thing – "so far so good!”

U.S. Bonds – Avoid!

U.S. Dollar Index –While 99.9% of all investors should not trade commodities to start with, I've spoken about shorting the U.S. Dollar index in the 84-85 area. It's been my belief that the U.S. Dollar remains in a secular bear market; is terminally ill and all we've seen is a rather weak countertrend rally the last year or two.

While the "Don't Worry, Be Happy” crowd hasn't (or won't) mentioned more and more announcements around the world of countries no longer going to use the U.S. Dollar as their currency of trade, it's just another sign that Uncle Sam's paper is terminally ill long-term.

Gold– As noted in this post of mine last Friday, the Crimenex (Comex) was for the umpteen times the scene of a mugging. After countless similar criminal acts, the authorities have finally decided to act and have sent this man to investigate.

Seriously, it's gone way beyond pathetic now and even TOUT-TV noticed the absurdity now of the trading in the paper market. But notice towards the end of the TOUT-TV interview, Simon Hobbs asserts why is anybody questioning this? He is now my poster boy for 99% of so-called financial journalists who should be a shame of themselves for not even questioning the insanity of the trading patterns and want us to think that the scandal after scandal in all other markets somehow stops at the door of the Crimenex?

In this particular case, Simon the dunce (sorry for appearing rude but after 30 years in and around Wall Street I know any journalists truly worthy to be called one would not simply "pan” the possibility that someone just a moment before one of the biggest economic monthly numbers is release, absolutely slams the market) is a fool. No one in their right mind, trades that amount long or short just before such a release – period, end of discussion…. Unless they know the news and know their trade can't lose.

But ever since we learned it's going to take the FED 7 years to ship back just a part of Germany's gold, anyone who doesn't grasp the ever-increasing takedowns in the paper gold market while physical demand just gets stronger and stronger, should become Simon Hobbs fans and also prepare for the return of Elvis, Jimmy Hoffa and Mark Sanchez being named NFL Player of The Year.

Despite yet another take down, gold is developing a major bottom formation. Getting above $1,430 without making a new low shall be another indicator of such a bottom. However, it's going to take getting above $1,550 to send the gold haters and the media that love to publicize them, back under the rocks of which they came from.”- Peter Grandich, Grandich Letter