A Strange but Good Week

I have been waiting a long time to start the short T-Bond position that will be the biggest trade over the next ten years.  I don’t know whether this is the top or not in bonds, but down the road we know interest rates will be a lot higher.  The gold and stock markets acted like a bunch of CNBC robots who got their switches put in backwards, truly amazing.  So we are now modestly long gold and stocks and short bonds.  The macro indicators did flash a warning sell signal yesterday which indicates that rallys to the practical yearly highs that I mentioned earlier this week will need to be sold.

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