The Grandich Letter
Market, Economic, Social, Political and Life Commentary by Peter Grandich

U.S. Stock Update – Yes, those of you who listened to my Friday interview heard correct. I did indeed state I believe the DJIA can approach, touch or surpass its all-time high. No, I haven’t been stuck in a room with CNBC the only TV channel. And no, I haven’t applied for membership in the “Don’t Worry, Be Happy” crowd.

With almost 30 years in and around Wall Street, I feel I’ve developed a sixth sense with markets.  The Fed’s recent announcement of leaving the money spigot wide open, combined with the inability of the bears to take the market lower on supposed bad news, reeks of a market that still wants to go higher. I was never a hippee as a youth but their slogan of “make love, not war” is prudent and I continue not to fight the tape.

Gold has broken above a classic correction pattern (descending wedge) and should at least move back to the $1800 area before any meaningful consolidation. A new, all-time this year is quite possible.

I’m now in bond shorting mode again. Ideally, I would like to do it on the back of a new low  yield on the U.S. 10-year Treasury(around 1.70%) so stay tuned. It’s my opinion that bonds shall be the worse asset class to own over the next 10 years (next of course to signs declaring Nadler gold timer of the year).

I continue to have several uranium-related issues on my “Tracking List”