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| Thanks for the synopsis of Carter Worth on CNBC's Fast Money. Just keep in mind these people especially Adami, who I generally respect, said to stay out of gold, no room to run...Good thing I did not listen to him in august through september. Everyone is saying the $ will rally, not sure, but I do know we are heading for multiple closes below $75 or around the .782 retracement. In my mind, if we see a solid weekly close below 75, we go to the summer 2008 lows. Everyone is talking 90 oil. We shall see. Markets can stay irrational longer than people can stay solvent. Ask Boone Pickens about the ride he got in oil or the Canadian Wheat Board in HRSW back in 2008. Look at SX10 beans, who the hell thought they could be making new highs right now with all that SA is going to produce! Believe me profits could be good next year, if we can raise a crop, but this weather stuff has me concerned, one of these years the big drought will come, Elwynn Taylor keeps talking tree rings, but the corn belt is wet right now. The weather is just so extreme. Rains come in 2-3+ inch downpours sometimes more, sometimes none. Record cold months followed by record warm months or vice versa. Sorry for the ramble. I think my point is the new normal is volatility in everything. | |
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Keeping my eyes pealed
