The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.
NEW YORK ( ETF Expert) -- What if the employment report for February is much weaker-than-anticipated? What if Israel drops much bigger hints about a pre-emptive strike on Iran? What if gasoline prices surge another 20% over the next two months as we head into the summer? Or what if core inflation increases so rapidly that the Fed finds itself hinting at rate hikes sooner than 2014?
For the time being, even the boldest bulls realize that stock prices may cool off after the best two-month performance since 1991. That means "long" investors have few choices but to wait before putting new money to work.
Feel like you absolutely, positively have to get into something? Consider SPDR Metals and Mining (XME).XME has set higher highs in every consecutive month since November. Yet, the ETF is more than -10% off an October peak and more than -30% off an early 2011 pinnacle. If you believe that central bank QE bond purchasing by the Fed and ECB will create significant