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Prudentsquirrel alert - USD GOLD YEN OIL DOW - 25 Apr 2011 (11:39 am Central)

Subscribers,

The Dow appears to be driving market sentiments, I know people have other more 'relevant' indexes but I like to use the Dow. Its testing that range 12200 and 12500 now.

The USD should find a bottom here somewhere above the critical 70 level on the USDX particularly if US markets weaken.

Gold is priced pretty near where I believe it should be and Silver worries me as a bubble. Problem with bubbles is they gain the most at the very end making it almost impossible to get out mentally.

I do not feel gold is in any kind of bubble but is presently fairly valued. Several years ago i told readers to buy gold at anything under $1000.... that looks right on now. We actually were the first that I know of to talk of the Gold $1000 USD floor several years ago.

I dont like this silver bubble and who knows how high it will go. Silver is a classic speculator market by the way, in case you feel its so -safe-

just be warned of the silver hype. I personally, now would sell it. Thats me and dont yell at me if silver rises to $100 then crashes!

The Yen has been weakened and that is market friendly in general but this is probably only temporary. Oil is in chaos with the ME in a new mess every week. This is totally unprecedented. Do Not speculate in chaotic markets.

Best

Chris

25 April 2011