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Bookmark this on Delicious ITZ outlook is that global growth has hit a temporary patch of weakness in demand growth, but by September expect to see a turn around, not withstanding some sort of big financial event or some further blow-up of this sovereign debt situation. ITZ called the silver rally albeit somewhat early...thought we'd have an oil rally, which we traded via UCO and were stopped out with a small profit. Considered shorting oil Friday via Proshares SCO, but one can easily get whipsawed in this market. For now ITZ is involved with energy via RIG, SU, PGH & PWE. Longer term ITZ view remains oil will trend higher into 2012 and has a $120 price target. For now metals are working Silver Wheaton (SLW) up 33% since June 16th, Freeport McMoran (FCX), Yamana Gold (AUY), StillWater Mining (SWC) and Southern Copper (SCCO).
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