We touched base with Arch Crawford
today. While we made it through March without a crash, commodities seem
to be getting killed now. Gold is making new lows and the stock markets
are getting hit as well. Oil has broken its key resistance point. Arch
is concerned about chart formations for the rest of April and still
believes that May 20 will be a very signficant date. In any event, it
appears that something major is happening now and the market action is
just an indicator of more important underlying issues ahead.
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