Hectic Morning

So I got off to a late start, we had neighbors come over to use our fax machine, I had to implement a portfolio and start the ball rolling to finance our fire department's new truck.

A while back I solicited readers for donations to the Walker Fire Department to go toward our new truck. That was moderately successful but we are proceeding. A new truck is ordered and due to be ready in late April. This is a big deal.

Enough of that, gold is going crazy as it trades above $580 for most of the day. I understand the bullish case for equities and am participating in the move, despite my belief that the market will go down, but I have to wonder what gold might be saying about domestic equities and the US economy.

Could it be that gold does not matter? Could it be that gold now is correlated to equities and both can go higher? It is hard for me to think that can go on for any length of time. If the stock market keeps going higher, people will likely get giddier. I would advise getting more and more skeptical, cautious and aware. The market may not go down, it may finish the year up more than anyone expects, for all I know, but less giddiness when everyone else wants to be giddy could spare you some pain.