The Deflationist Camp Grins
posted Apr 15, 2005 at 12:19AM
The charts pretty well speak for themselves. In my opinion price action trumps oversold conditions in an environment where the market seems obsessed with rising rates.
Care is needed here if you are deploying cash, as reversals may only turn into retests of supports now turned resistance.
Right now I am about 30% invested, mostly in oil and uranium spec plays, but the following charts make me hesitant about adding positions until current holdings start proving themselves.
It could be that the long called for deflation scare as Saville described it has arrived.
Keep some powder dry