ROGER WROTE

A former EF Hutton has this to say, today

a few noteworthy items-----

 1) Why did Warren Buffett buy gold. Read today that Buffett says he reads

inflation as growth of money supply. Since money supply has surged so much he

bought gold.

 2)It was reported that an OHIO pension fund has voted to put 5% of their

assets into gold. The article says they have not hired a money manager to do

that YET. But, the pension fund is large enough that the money involved would

be 800 million. It's hard to imagine what that size money could do to mining

stocks.

 3) Ike Issouf reports that the SNP is stretched amounts above various moving

averages that those averages have almost NEVER gone higher without a

correction.

 4) Ike also shows that the SNP has done a broadening top on the monthly

chart. This is an Elliott Wave 3,4,5 meaning that the SNP would be in a fifth wave.

 5) I noticed that the 10 year treasury note YIELD has done a broadening

bottom while the price has done a broadening top.