A Comment -- General Comments From an Expert (A Commentary)

COMMENT
Shorting the US$: There are a couple of ways. You can go on margin on the US side, as rates are quite low. You can then buy some income trusts, which are getting great yields right now. Also, HBP US$ Bear E.T.F. (HDD-T) will give you a short.
COMMENT
Oil: Thinks oil will range between its support of $50 and the resistance level of $65 over the next couple of months. Psychological range mostly.
COMMENT
Natural Gas: Chart shows downside momentum is really slowing down. There is seasonality to this. He thinks $7/$8 would be the upside with $8 being a significant resistance point.
COMMENT
Business Trusts: They have to be wound down by 2011. Companies are slowly gravitating more towards becoming corporations. The challenges will be how they transition. Economic slowdowns are going to affect earnings and therefore, distributions. Be very careful that distributions are sustainable.
COMMENT
Gold: Was outperforming the market until the 4th week in September. Margin clerks got control of the market and sold everything off. That forced gold liquidation and a flight to safety in the US$. Gold market was the only one that didn't break down. It held the 200-week moving average. Has now started to outperform the market for the last few weeks.
BUY
Natural Gas: (Market Call Minute.) Seasonably, we have a couple of months here.
COMMENT

Gold: Stock market is pricing in deflation and stocks are going down. Conversely, governments are printing money like crazy trying to stem it. Eventually velocity of money will start to increase on a hugely accelerated monetary base and voilà you have monetary inflation and gold should go up. He just doesn't know when that is. Over 1 or 2 years you could do very well.

BUY
Bonds: You can get some good use now and he prefers corporates. One example is Shaw Communication, which gives you almost 7% with 6 years left. Great balance sheet and family owned.
COMMENT
His Market Timing: Tries to give equal weighting to all 3 factors, Technical, Fundamentals and Seasonality.
BUY
(Market Call Minute.) Silver: Seasonality is from November to February.
COMMENT
(Market Call Minute.) Natural Gas: Has been forming a nice base for the last couple of months. Seasonality just continues until the end of December. Nice trade but you're getting close to the end.
COMMENT
Oil: Reality is that gas outperforms in the winter, not oil so she prefers gas right now. Summer is far more favourable for oil. Thinks $50 to $60 oil is very reasonable for next year. Anything lower than that will destroy exploration.
COMMENT
Short Selling: Great opportunity for Shorts. In the last 5 years, shorting was a nightmare because of takeover rumours that ruined your Shorts. Now you're able to make money. You have to be careful because you can be offside by 10% or 20% in a hurry because of volatility. Pair trades should work because it is such a beta market.
DON'T BUY
Financial ETF's: She has been negative on financials. This whole mess started with a financial crisis so buying financials is probably not the right thing to do. She would prefer individual stocks to ETF’s in any case.
COMMENT
US$: Has been bullish on the US$ for quite some time and being short other currencies. The dollar has run quite a ways and will ultimately have to back off.
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