Charles Nenner’s Comments
- Nenner is calling for a Treasury bond rally and plunge in interest rates following QE2.
- Global Markets reaching the end of a topping process
- still see’s S+P top of 1356
- double digit sell off starting in May 2011
- says top on oil isn’t in yet, would buy dips with $99 stops
- see’s a medium term top in gold and silver, wouldn’t buy currently. He notes the choppiness is affecting his system in gold and silver. (My 2 cents: Interesting comment if you put it together with Martin Armstrong’s comments that a pullback in gold into mid-June would be very healthy for a long term rally)
- Copper is near a top, if it breaks $4.26/lb, then we’ve seen the top of the year.
- The Euro is making a run for 1.46
See full article here from themadhedgefundtrader.