U.S. Stock Market – There’ s still plenty of cash burning a hole in the pockets of the “Don’t Worry, Be Happy” crowd, so the short term bottom I spoke of remains in force – for now. Light volume through Labor Day should only help to enhance this bounce, but any thought of this being the birth of a new bull market could be dangerous to your financial and mental well-being (similar to those poor Vancouver residents whose annual “this is our year” dream should be kicking in now).

Gold – The mother of all bull markets remains fully intact. It continues to eat up and spit out all market top and bubble forecasters. A four digit price with a “2” at the far left is quite possible before years-end.

U.S. Bonds – Shot gun loaded and waiting on a real drive below 2% on the 10-Year T-Bond for more than a moment or two to get short. Stay tuned.

U.S. Dollar – Continue to watch the 73.40 area on the U.S. Dollar Index. Two consecutive closes below that level should lead to a new low below 70 somewhere in the 1st quarter of 2012.

Oil and Natural Gas – I like oil at $75 or lower while natural gas is more compelling the further it gets under $4