NFTRH+; brief update & admin

Admin first. As mentioned previously, I’ll be away from my office for the rest of today and all day tomorrow. NFTRH 758 will be published on Sunday as usual.

Now for the update. Goldilocks is reasserting as the inflation trades are generally weakening and the inflation bugs within the gold sector do their ritualistic selling as well. With GDX now dropping below the 33 level and the daily SMA 50, I am back to focusing on the gap below 29, which now has the SMA 200 moving upward toward it. I’ll plan to continue to hold DUST to oversee my moderate holding of gold stocks while I am away.

But I am not in the least dented in my positive gold stock view until/unless gold starts to lose its uptrends vs. stocks and commodities. It’s getting hammered vs. stocks, but that is Goldilocks. It is still firmly trending up vs. commodities, including oil and copper. That is still counter-cyclical signaling beyond Goldilocks.

Remember, Goldilocks is interim. The longer-term plan is for her to morph to liquidity stress or possibly the next round of inflation, sooner than anticipated (I favor liquidity stress, but IMO the inflation trades are not done on the bigger picture). With Goldilocks, Tech continues to lead and the Semi sector has regathered itself. That is 100% normal to the current backdrop and excuse makers and conspiracy theorists should be tuned out.

We projected Goldilocks for a reason and this is the reason. She’s persisting and that is just the way it is. Therefore, I am deployed in the stuff that is generally pro-Goldi and out of or short the stuff that is not; exception being gold miners still held (w/ hedge).

See you on Sunday with NFTRH 758!