I would definately look at gold stocks as a medium term buy, recognizing that it is a commodity, at the end of the day.
The Euro economies have higher imbedded unemployment numbers and much higher structural deficits than we do. The lower dollar does help us in non-Euro/American markets.
OPEC still takes dollars, which gives the Euros an advantage in importing oil, and hurts Norway and the UK in selling oil.
China needs to float their currency, but is going to avoid it. They need us to buy their stuff at least as much as want it.
I would also say that buying well run international mutual funds would be good, as would owning shares of comapnies that make things here we really need: oil, energy, transportation, real estate.
Ed
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