We would not dream of putting a single penny into the DOW. How overbought does it have to be before profit taking turns to panic selling?

We have had a few communiqués lately asking if its time to switch to stocks. Not for us. There is an election and things need to look as rosy as possible for the next week or so because that’s what politicians like.

Just take a look at this chart: It reminds me of a line from Bob Dylan; “Why do you have to ask?” I think it was from Maggie’s Farm!

We are sticking to the precious metals arena for the time being.

30 October 2006