Weak USD, strong EM debt… logical and expected
From the December 14th NFTRH Trade Log…
Here’s the daily chart, which includes dividends. A chart without divies also shows a notable move.
NFTRH is far from a gold stock obsessive. While I am as bullish as anybody on the gold stock sector (but for the right reasons, unlike perma-bulls out there) this is not a newsletter trying to herd or brainwash anyone. Hence, the above, which adds nice portfolio diversity for now.
It took a pullback today but on balance the day saw my shorts mostly green (covered a partial gold stock hedge for a quick loss) and my longs mostly green too, since the majority are gold stocks (and bullion). I was psyched to see Energy (XOP, down over 5%) and solar (FSLR), two of my shorts, get whacked today while the Goldies went up and EM equities (EEM, in which I have a position) did too.
Okay 2023, one down and a crap load more to go. It’s going to be interesting.
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