Dow looking at 13,000 again, it soon may look at it from the rear view mirror, Japan's market at 7 month high, Europe still has strong tone. Free money generates risk on trade. from past experience, this will not end well. But if we are in the beginnings of the inflationary cycle, it could easily run 1-2 years. Hard assets will continue higher and then have a surge phase. Remedy, raise rates. Not likely in a meaningful way for a year or so. Traders entered market once silver broke 200 day moving average yesterday and quickly added another .75 to the price. Gold paused but is still solidly above resistance. No bad unemployment numbers or headline news from Europe and the metals should continue to be well bid.
