And yeah, I am a gold bug.
I am a gold bug who’s been long the US dollar by the proxy of a leveraged Euro short.
Now the MSfM is treating the public to headlines like this. Truth be told part of the article illustrates my own theme (it’s a bounce), which gives me just a bit of pause about that theme.
A rebounding U.S. dollar is crushing gold — how far can it rise?
Relax, it’s just the running of the inflation bugs.
The headline is what casino patrons see and that’s the kind of stuff that gets the herds running. Back at the end of July we noted…
…as we reviewed the oversold currency and the contrarian bullish CoT and public sentiment situations against over bullish markets and rampant speculation.
But now Uncle Buck is approaching the first target and if the Trump/Treasury/Fed Triumvirate will just keep its collective orifices shut for a little while longer I’ll release this position. As someone with short positions sprinkled across several asset classes I realize those orifices can poop on those positions at any time.
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