If you told me yesterday that the largest bank in the U.S. was going to report lackluster earnings results, and Standard & Poor's was going to take its credit rating clever to Europe, but the markets would largely shrug it off - I probably would have politely told said "you're crazy!"
Welcome to reality; it all happened today. And the little market that could clearly thinks it can still test higher levels and isn't going to let some silly headlines derail it.
While JP Morgan (JPM), the big banks (^BKX), and the Euro are getting whacked today, it doesn't change the strategy of money managers like Frank Holmes, the CEO & CIO of US Global Investors, who says the crisis du jour has no bearing on the long term opportunities.
"I am a big believer that you buy gold on down days," this transplanted Torontonian tells us from his new home in Texas. He believes this year could be "one of those odd years" that the dollar and commodity prices rise together.Read More »from Gold & Copper Trends Are Still Higher: Holmes