The Fred Report - Weekly June 21, 2010
The stock market has improved, but still looks like some short-term choppiness is likely. We remain concerned about our monthly indicators, which are much longer-term in nature. If they can get a bit more oversold here, we will have much more fuel for a strong rally. We continue to expect the TLT to fall, and penetration of the 96 area should lead to a decline to 94 to 92 on that ETF. Longer-term, we are in the inflation, and not deflation camp – so gold remains a favorite investment.
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