10Y/3M is at 0.07, still positive. In 2018 market bottomed when this spread was at 0.15. It kept going down, turning negative during the rally. Reason is that 10Y yield fell very fast. If same thing is in play now, it may be ray of hope for long suffering gold bugs (like me), who thought they’re smarter than Gary and got in way too early.
Gary October 18, 2022
Actually Armen, I am of the ‘keep it simple, stupid’ persuasion. If monkey don’t see correct signals monkey don’t do. When monkey sees them, monkey do.
Mr.P October 18, 2022
Gapity gap, gap gap gap. Not exactly a solid foundation, more like porous sand, for bully to start a leg up.
Gary October 18, 2022
Good point. A bottom can come off a downside climax rather than base building, and it doesn’t feel like the market did that.
Sticking with the original plan, but open to change pending the gapity gap gap’ing market.
10Y/3M is at 0.07, still positive. In 2018 market bottomed when this spread was at 0.15. It kept going down, turning negative during the rally. Reason is that 10Y yield fell very fast. If same thing is in play now, it may be ray of hope for long suffering gold bugs (like me), who thought they’re smarter than Gary and got in way too early.
Actually Armen, I am of the ‘keep it simple, stupid’ persuasion. If monkey don’t see correct signals monkey don’t do. When monkey sees them, monkey do.
Gapity gap, gap gap gap. Not exactly a solid foundation, more like porous sand, for bully to start a leg up.
Good point. A bottom can come off a downside climax rather than base building, and it doesn’t feel like the market did that.
Sticking with the original plan, but open to change pending the gapity gap gap’ing market.
Today’s opening gapity gap is filling.