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"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10
Tuesday, September 27, 2011
So what do I do? Why, I dial in a daily SPX chart and decide to add a bear position against this item to go with the lone remaining bear on junk bonds. Slowly, I guess the plan is to scale in short various items against the favored gold sector. Bear positions in base metals, energy, emerging markets lay in wait if all goes according to plan.
Wild card would of course be the Fed. But I think they'll sit sidelines as long as this relief rally keeps on keepin' on.