Gold

Well, as I have watched golds action today, I have re-thought my thesis and have concluded that in the long run, I might be right that a pre-mature move to lower rates by the fed is actually inflationary and good for gold, however that is not what the mkt is focused on right now. The mkt takes a more Keynesian view of what causes inflation and thus, the mere prospect of slower growth in emerging markets, China and India is enough for the holders of gold to want out. For the short term, gold is risky and may retest the 635, possibly the 610 level.