Jim welcomes back David Nicoski CMT, Director of Research at Vermilion Technical Research. Dave is still in a defensive mode in the markets, continuing to favor the consumer staples and utilities sectors. He believes we need to see some bottoming patterns, whether it’s 10% or 20% lower from here, before he becomes more constructive on the markets. Unless the oil price rises from current levels and maintains those gains, he sees continued risk to the banking sector. Dave suggests having a position in energy as an insurance policy against missing out on a 30% rally. He also covers gold, the gold miners, and the dollar. Also in this segment, Ryan Puplava has this week’s Market Wrap-Up, and Greg Weldon covers the commodities markets with Cris Sheridan.
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