All I can add to the market today is UGLY! Not kind of action I want to see. At one point Dow was up 160 pts and gold down $10.
As you know I am long gold UGLD x3 and long bonds TMF 3x fund. Those trades looked bad at open but as day played out chattter from fed spooked the market.
I thought it was my tweet “silly bears the trend is your friend” shortly after I tweeted it the tide turned.
I’m positioned either way. Equities are over priced at these levels. Now dia, spy, and IWM are on sell signal only QQQ holding the uptrend.
Bonds in play
Gold in play
High Yeild still in play
Oil in play