This from Peter Grandich

The Fed has shot its silver bullet. While today’s move has definitely had a big positive impact, I believe it has made three areas of investment better long term opportunities versus where they stood just yesterday. Make no mistake about it, the FED mortally wounded the deflation monster today and impregnated the inflation genie in the bottle. The exact birth date is not know but whether it’s one, two or three years from now, I do believe these positions taken now should allow for large-scale handouts of cigars down the road.

The three areas are:

• Shorting 10Yr and 20Yr. Treasuries via PST-NYSE and TBT-NYSE
• Aggressively long Canadian Dollar via FXC-NYSE
• Gold and Silver immediately and base metals on entry point watch.