Byron Wein On Oil & Gold

Itz Stock Chartz bias towards commodities are inline with Blackrock's Byron Wein, CNBC video today in which he discusses gold & oil.

Below is a chart from Itz Pix portfolio looking at the YTD performance of some of the commodity stocks.
Here is the link

In this chart it would suggest selling oil or the USO, it is somewhat similar to the $GOLD:$WTIC chart. If one were to trade this chart, that is buying the USO at the high & selling at the low ratio readings, it would of netted 31 points or a double (100%) in less than 12 months. Where a Buy & Hold about 29% as for the GLD refer to the Inverse H&S chart. So that said it would suggest one weight gold over oil at the current time. Today's move in gold shows that the greece debt issue is not solved.

EIA Weekly Report a build in Crude +2M barrels, Gasoline -2.5M & Distallates +1.1M

GOLD -SILVER- DOLLAR!

GOLD!!!! Heard enough today, well as it breaks it's March 2008 highs on news of the dollar possibly losing it's place as the world currency.

Oil producing nations denied a British newspaper report that Gulf Arab states were in secret talks with Russia, China, Japan and France to replace the US dollar with a basket of currencies including gold in trading oil.

The Itz Pix portfolio, which has been in gold and commodity stocks since July is profiting nicely today. I continue to see Gold and silver more so, as the plays into year end. I'm also liking oil here ...it too will play catchup to gold/silver in the next few weeks.
*click on chart to expand image