Turning

Gold is on a tear, as predicted here. Oil is doing well, but it's much less certain.

Meanwhile stock markets have taken a decided turn downward, as I've also long expected. Chris Vermeulen, a reliable and conservative technical analyst that I follow, offers this chart:


True to form, the S&P500 short position that I held for several weeks got stopped out within a day of what could be the top.

Finally, bond yields keep rising despite the March 18 announcement that the central bank would buy $300 billion of government debt over six months. Everyone talks about this $300B figure as though it's huge, but they've actually announced much larger numbers for such asset purchases, more like $1.75Trillion.