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	Market Opinion March 1, 2010 [Stocks] SHORT TERM: (3 days - 3 weeks) - I will not be doing short term opinions, unless demand should warrant it. MEDIUM TERM: (1 month - 5 months) - Sell - Since my last update, we have seen some market action. Although, not a lot. It appears that we traced out an e-wave (a) or (1) and are probably finishing the (b) or (2). The next leg down should be a doozy. Stay tuned! LONG TERM: (More than 6 months) - Sell - Some people might complain that I've been on a sell signal for a long time without the market going down. But, if you were managing a portfolio of stock, you would be grateful, because many of those individual issues are selling for less than they did 6 months ago. We have witnessed a very long sideways consolidation. My best guess is that this level, on the indexes, won't be seen for years. As of this writing, long term investors will simply want to stay on the sidelines. [Bonds] LONG TERM: - Sell - Treasuries are exactly where they were at last writing. The big story continues to be the deterioration in Municipal and State budgets. As I've been saying, do your homework, it's time to take a serious look at shorting Munis. Many states, counties, and cities are on the verge of collapse. Unless the federal government bails them out, their debt will be worthless. Some of the states in the worst condition are California, New Jersey, Oregon, North Carolina, Michigan, Kentucky, and Ohio. Some of the cities in the worst condition are Detroit, New York City, Houston, Jacksonville, Cambridge, Pittsburgh, Philadelphia, and Washington D.C. This is only a short list. [Gold] LONG TERM: - Sell - I continue to believe that gold was about to collapse. My reasons are simple: 1)inflation is not a problem, deflation is the problem, 2)the dollar is not crashing as the media keeps telling you. In fact, it is substantially higher than it was last year. 3)gold is the only commodity that has recently rallied, meaning it is in it's own bubble. Actually, some commodities, such as gas, are near record lows. Nimble traders should short the XAU, or it's components, on rallies. [Real Estate] LONG TERM: - Buy - Most real estate has not hit bottom. But your best deals come long before the actual bottom is reached. The whole thing has me excited. I have my ear to the ground, searching for deals. Believe me, they're out there. Can you recognize one? If you need help, call me! [Antiques/Collectibles] LONG TERM: - Buy - This asset class will always be very rewarding for those in-the-know. As long as world economies depend in ‘fiat currencies’ this baby is solid. But, you have to do your homework. Smart investors are trend followers. There are no PE’s to get out of whack, so prices can go to the moon. Don’t be afraid to buy inexpensive items, but always go for “quality and a theme”. Disclaimer: This analysis is only for informational and educational purposes and does not represent a proposal for buying or selling stocks, bonds, gold, futures contracts, or investment grade assets of any kind. BCS, Inc. is not in the business of selling Market Advice.

Market Opinion
March 1, 2010

[Stocks]

SHORT TERM: (3 days - 3 weeks) - I will not be doing short term opinions, unless demand should warrant it.

MEDIUM TERM: (1 month - 5 months) - Sell - Since my last update, we have seen some market action. Although, not a lot. It appears that we traced out an e-wave (a) or (1) and are probably finishing the (b) or (2). The next leg down should be a doozy. Stay tuned!

LONG TERM: (More than 6 months) - Sell - Some people might complain that I've been on a sell signal for a long time without the market going down. But, if you were managing a portfolio of stock, you would be grateful, because many of those individual issues are selling for less than they did 6 months ago. We have witnessed a very long sideways consolidation. My best guess is that this level, on the indexes, won't be seen for years. As of this writing, long term investors will simply want to stay on the sidelines.

[Bonds]
LONG TERM: - Sell - Treasuries are exactly where they were at last writing. The big story continues to be the deterioration in Municipal and State budgets. As I've been saying, do your homework, it's time to take a serious look at shorting Munis. Many states, counties, and cities are on the verge of collapse. Unless the federal government bails them out, their debt will be worthless. Some of the states in the worst condition are California, New Jersey, Oregon, North Carolina, Michigan, Kentucky, and Ohio. Some of the cities in the worst condition are Detroit, New York City, Houston, Jacksonville, Cambridge, Pittsburgh, Philadelphia, and Washington D.C. This is only a short list.

[Gold]
LONG TERM: - Sell - I continue to believe that gold was about to collapse. My reasons are simple: 1)inflation is not a problem, deflation is the problem, 2)the dollar is not crashing as the media keeps telling you. In fact, it is substantially higher than it was last year. 3)gold is the only commodity that has recently rallied, meaning it is in it's own bubble. Actually, some commodities, such as gas, are near record lows. Nimble traders should short the XAU, or it's components, on rallies.

[Real Estate]
LONG TERM: - Buy - Most real estate has not hit bottom. But your best deals come long before the actual bottom is reached. The whole thing has me excited. I have my ear to the ground, searching for deals. Believe me, they're out there. Can you recognize one? If you need help, call me!

[Antiques/Collectibles]
LONG TERM: - Buy - This asset class will always be very rewarding for those in-the-know. As long as world economies depend in ‘fiat currencies’ this baby is solid. But, you have to do your homework. Smart investors are trend followers. There are no PE’s to get out of whack, so prices can go to the moon. Don’t be afraid to buy inexpensive items, but always go for “quality and a theme”.

Disclaimer: This analysis is only for informational and educational purposes and does not represent a proposal for buying or selling stocks, bonds, gold, futures contracts, or investment grade assets of any kind. BCS, Inc. is not in the business of selling Market Advice.