The Contrarian

... I saw that the fly is moving into banks...... damn.

The Dollar/euro is 1.55... from 1.56.... That is just a huge move...

My downside projection for gold is 850.... I'm thinking I could be wrong and we could get 800..

For oil.... I think the Hedgies are going to stay there Umn.... I think that will be a good indicator for a more "Real" Move into equities... Maybe a $20 move in oil... could show that the hedgies have moved out in mass.

Let me just say..... The "recession" is not over, nor is the Materials story... But Near term, I think it could be a bad place to be.

Now.... The Great Rick Santelli... has called the bottom in both equities, and in the Dollar. This does Mess with me a bit.... That man is the Smartest man on T.V. and certainly CNBC... and that opinion is.... Tough to reckon with... But if it's true... Banks are going through the roof. As The wall street playbook, says rotate from materials to financials/retail.... and it's time for the long road down for materials.

The difference is... It's different this time..... One thing that is different is that if the fed usually doesn't end easing for about 6 months after the Bottom..

It's going to be fun to see, I could be wrong.