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Grandich Observations PDF Print E-mail
Written by Peter Grandich   
Tuesday, 22 April 2014 06:56

• Christmas time was my most joyous period of the year for a good part of my life. However, Holy Week has replaced it not for joy but as a short period when I finally seem to focus on what I should be focus on the other 51 weeks (but fall short…and woefully short some weeks). While I return to “business as usual”, may it not really be the case this time around so help me God!
• IMHO, the U.S. stock market is tracing out a broad major top. Lack of volume, no broad leadership and a feeling one can’t lose so long as the FED is doing its thing, makes me quite comfortable wanting little or no exposure to general equities. Adding positions that are advantageous to declines is also welcomed in my book.
Like it or not (I’m in the “NOT” camp), gold is locked in a broad trading range of $1,200 - $1,400. I think one should refrain from being a buyer unless it’s near the bottom of the range or has clearly broken above the top of the range. That may mean weeks or months of doing nothing, but when I look back over my 30 years in this game, doing nothing versus something would have been the better choice more times than not.
Speaking of boring trading ranges, both U.S. bonds and the dollar are also competing for watching paint dry and it’s not even the dog days of summer yet!
• This makes me feel comfortable – NOT! I deal with small to mid-size business owners and have noted here before that these businesses have many complaints but none bigger than how regulations are choking them.
• I told you John Crudele won’t stop and “Censusgate” may not be on the nightly news, but it’s a potential major problem for an administration that has given new meaning to major problems.
• Speaking of problems, this article does a good job of putting the Ukraine crisis in prospective.
• Long time readers should recall me speaking about the vulnerability of our electronic grid. My generator and dry food may not be enough.
• One of these days those of us pulling the wagon are going to say enough and want to join those in the wagon causing the wagon to come to a screeching halt.
• I was in the ER again at 6AM this morning with another nose bleed. If there are any ENT’s readers or anyone with nosebleed expertise, I would very much appreciate any input you may have on the subject.


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About Peter Grandich

Though he never finished high school, Peter Grandich entered Wall Street in the mid-1980s with no formal education or training and within three years was appointed Vice President of Investment Strategy for a leading New York Stock Exchange member firm. He would go on to hold positions as a Market Strategist, portfolio manager for four hedgefunds and a mutual fund that bore his name.