I am making this comment as a flurry of trading is in the middle of pushing gold down the past few days.
I trade from a Macro view based on almost 50 years of trading.
I was trading on the CME floor when Gold made its first big push into the $ 800 in the early 80's.
My current view is that reflation is not in play in the current market and fear will be the...
To my mind, todays Macro action in Gold and T-Bonds is a classic blowout of stops before a powerful upside move.
Oil is still a short as a combination of high supply and weak demand are the major influences.
Stocks are just biding time at a top area until the Washington issues become known (Health Care, Taxes, infrastructure).
The consumer is key and the real...
This is a macro contrarian trade opportunity that few will take because it looks so risky this morning, but the see through fundamentals back it up. That trade is long T-Bonds, long Gold, short stocks. It may be scary for a few days, but next week will be the telling time.
I expect the April 17 high of 1295 to be the top of a little consolidation range of 1262 to 1295 for the short term. My Macro view remains for sharply higher prices by end of the year, probably above 2500 as the fear factor multiplies and equities implode.
How could Goldman Sachs, whose top former people are running the Economic Plan in Washington, hit a snag in trading profits in the first quarter? Maybe they were trading their own ideas. Maybe it backs up my contention back in January, Goldman Sachs people are better at feeding off others, than building a plan for others in this country.
Technically the...
See potential head and shoulders tops in JPM and GS
The Macro View, Hedge Risk, and Push back Reflation is developing
ie, short Stocks, long Gold, Long T-bonds
