Loading ...“the miners are set up to ass launch harder than even the average die-hard might currently imagineve” [does he mean higher or lower?]
As I’ve harped on for like ever, we’ve got to be in line with the real (not imagined) fundamentals and that is what we are working on in NFTRH. We have presented one chart for instance, that shows if Thing 2 begins to out perform Thing 1, the miners are set up to ass launch harder than even the average die-hard might currently imagineve. I want it, belie me. But not to the point where we will get out of line with reality in summoning it. We will continually gauge it and all the other important considerations. It’s all you can (or should) do in the markets. Be watchful and let ’em come to you.
The things going on in the macro over the last week, from pain in US/Global stocks and the risk ‘on’ trades, to commodities and the anti-USD trades have been steps in the right direction. But a sound manager will see through the work and not let wishes, hopes or other emotion take over.
You can bet we’ll be updating our individual gold miner charts this weekend and if we can develop macro and sector fundamental views to go with the technical view, the fun will begin. But first things first. Flipping Amigo #1, the SPX/Gold ratio over, we see that a certain risk ‘off’ metal got a little peppy vs. a certain bloated pig today. Nominal gold did squat, but it’s in the ratios to a constellation of cyclical and/or risk ‘on’ assets that the true funda will be found.