When the economic history of the 1996 to 2017 period is written it will have two parts, the bubble building years of 1996 to 2006 and the deleveraging years of 2007 to 2017. It will point out that the period from…Continue Reading →
With the markets in the top half of their recent trading ranges we took off the long gold side of our total position yesterday. Since May 31st when we went to the long gold/ short S&P position our equity has…Continue Reading →
There is so much one could say today and a really long blog is rolling around in my mind but I think I will wait to see a few more things to fall in place. What is critical here, however, is…Continue Reading →
There have been a lot of twists and turns since our 2012 Updated forecast on May 9th that I am reposting here: S&P 500 High 1422, Practical High 1354, Swing Point 1286, Low 1150; Gold High 1795, Practical…Continue Reading →
Bernanke did the right thing yesterday. All the RISK ON / RISK OFF frenzy of the past few months is quieting down. As such we plan to neutralize our positions over the next week. We are going to use the 1290…Continue Reading →
Mr Bernanke goes up on the hill to answer questions today. While Fed Governor Janet Yellen continued her push for more easy money, a more solid governor, Richard Fisher said essentially in a recent speech, the money is out there,…Continue Reading →
Yesterday CNBC devoted a lot of talk by various commentators concerning the 1255 area of the S&P and how much trouble the market will be in if that level is broken to the downside. Saying things like that is a…Continue Reading →
While the airwaves and market letters are full of pronouncements this morning, a few things need to be kept in mind. One is that leveraging takes a long time, I heard an economist recently say it takes 10 years, which would…Continue Reading →
It would appear that Tuesdays rally high on the S&P at 1335 will now be a marker and the market is now headed erratically lower to the 1230 level over the next two months. As such we will increase our…Continue Reading →
Yesterday we sold out our little long stock position on the rally and are now short stocks a bit, about equal to 10 percent of our equity. We additionally on the rally reduced our long gold postion a little with the…Continue Reading →