It’s yet another lesson that we need to either trade with our brains, not our hearts, or just stay the hell out of the markets. The Vampire Squid projected to 197 when we first spotlighted it on October 21 (now public) and as I type it is at 198.39. Meanwhile, the asset with which Goldman shares the first four letters of its name is getting hammered again as risk goes ‘on’.
The NFTRH view continues to be to tune out hopeful gold bugs (whether sincere in their hearts or the other, more obsessed and promotional kind) and go with what the markets are indicating. In this case the markets indicated that the Pigs in general were a good trade and in my case, I took this evil pig, Goldman.
Here’s the updated weekly chart. This is one of the few with which I have had the fortitude to ride all the way to target. It is no doubt the product of people getting scared about interest rates, titillated about the b/s the media are coming up with about what Trump is going to do for the country (yes, the same media that were guiding us to a crash should Trump win). Anyway, for anyone who may have taken it, we have one giant, evil Vampire Squid… at target.