So, now I will illustrate what the stocks of the world’s largest 50 corporations have done since mid December (i.e., almost 9 weeks). In a word, zip.

Here is the list of the Global Titans ETF, which trades as DGT (DGT).

Here is the stock chart for DGT.
click to enlarge

Enough said.

Regarding a reader comment that this is a hard money blog, I respectfully disagree. This is a trading blog. At times I have been bullish on various sectors, industries, and stocks that are not metals oriented. When I started this blog (as “TraderWizard”) back in 2004, I stated clearly that I was afraid that market events would label me a “gold bug” and that I didn’t want to be called that.

Events have proven me right. Gold has zoomed – for the reasons I have been giving – and now I am being referred to as a hard money blogger. Unfortunately.

What I am is intellectually honest. Take today for example. Bernanke spoke – more nervous this time, but saying nothing of importance except that longer term, the U.S. is facing serious problems. What did the pundits and Talking Heads report him as saying? They said Bernanke was glorious, the master of Goldilocks, and so forth.

Nonsense. What they were reading was a different script than the one Bernanke was reading to a Congressional committee.

The point is that many traders are now bullish because (i) other people are saying that Bernanke is saying something he didn’t say, and (ii) the Dow 30 index was strongly up again.

So, if you don’t want to look at evidence like this Global Titans chart and technical indicators like Colin Twiggs Money Flow and Fed Model, and the recent rally in Precious Metals, then so be it. If that’s the case, I don’t think you are watching the market. I think you are listening to people, hoping that the strength in numbers will somehow levitate stock and bond prices higher.

When the gold cycle is over, I’ll be calling it like I see it. Then, of course, there will be readers who will take issue with me.

No matter. Some of you will even get mad. Do you recall the reader who got steamed over my calling AMD (AMD) a pretender a year ago (at $40+) when Wall Street was agog, and I was pointing readers back to Intel (INTC)? Well, I stuck to my guns because I happen to make up my own mind. I say “No!” to Wall Street whenever I smell the manure being laid on a little too thick. Here’s the proof of that: AMD closed today at 14 and change. Some year!

click to enlarge

In any event, we cannot be right on the mark all the time. That’s certainly not what I’m saying here. It’s just that if you want to comment (and I want you to!), just try to be a little more understanding of what I do. I’m just trying to get traders to think for themselves. It’s not hard. It can even be a lot of fun.

Bill Cara

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