Ron has an interesting commentary today:
http://www.kitco.com/ind/rosen/may212008.html
The comparison of the 1978 to 1981 period of rapidly rising commodity prices to the present ramping up of commodity prices. In short he predicts a top in gold and silver in the first qtr of 2009 (Feb 18/09 for gold, Jan. 14/09 for silver) . In terms of equities he is anticipating a March 2009. He looks for low below the 2002 level in the SP500. The quarterly MACD has turned negative and that does not happen often-a longer term early warning sign. Selling rallies is probably the correct strategy and buying only oversold dips.
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