NFTRH+; Gold stocks, post-CPI [w/ edit]

[edit] And just like that, as mentioned might be the case below, markets have reversed. Precious metals stocks are not unique here, however. It’s all reversing. Stocks, commodities and precious metals. So it’s likely not THE defining move. Also, the potential inverted H&S patterns per the linked update are still generally in play.

The play is going to be to buy the gold stock sector when the inflationists have left it for dead. With the headlines blaring INFLATION!!! inflationists, with not nearly the bravado with which they taunt the Fed, continue to to sell. In fairness, the average inflation bug is probably already sidelined from the precious metals and those that remain are probably being whipsaw/momo’d by algos set for max CPI mayhem.

So my imagined inverted H&S patterns noted in a previous update appear to be just that, imaginary in the face of the reality that the phase of inflationary headlines and fear of the hawking Fed is not complete. It’s a process, after all.

So I dumped a couple non-core items (AEM and NEM), still hold non-core FNV (oh so tentatively) and plan to ride core item MAIFF (MAI.V) to where ever it is going (planning to increase the position substantially as well).

Also keep in mind that inflammatory news days like today also have the potential to ‘buy the news’ on a downside shakeout and reversal. Hence, why I noted in the trade log that these items could be re-bought as soon as today or after a final plunge. It’s really up to the markets and the point when our indicators and sentiment hit max hysteria (the 30yr yield ‘Continuum’ officially ticked the 4% target area this morning).