Jul 17, 2017

Gold: A Short Squeeze Is Coming

Given the weakness in the US Dollar and the weak economic data, Gold should be moving up a lot more than it is. I still think that there's still a lot of overhang there's still a lot of short selling going on but I smell the mother of all short squeezes coming. (SPDR Gold Trust ETF (GLD), Market Vectors Junior Gold Miners ETF (GDXJ), Market Vectors Gold Miners ETF (GDX))

Markets: Australian Dollar, Canadian Dollar, Foreign Stocks

The Australian dollar (AUD) is very close to a two-year high it's at more than a one-year high as is the Canadian dollar (CAD) which was very strong on the week on the back of a rate increase by the Bank of Canada but the US dollar fell across the board, obviously foreign stocks better than US stocks given the tailwind that they have from appreciating currencies.

Jul 12, 2017

Economic Data Continues To Come Out Weaker Than Expected

Economic data continues to come out on balance weaker-than-expected. The Atlanta Fed today notching down its estimate for the second quarter GDP to 2.6 percent. This is the lowest the Atlanta Fed has been since they've been making forecasts on the second quarter. I assume that they're going to continue to ratchet that bar lower and lower as more economic data comes out.

Jul 5, 2017

Some People Are Trying to Keep the Price of Gold From Rising

Every time gold is about to breakout someone comes in and sells a tremendous amount of it all at one time. So, obviuosly there are some headwinds, some people are trying to keep the price of gold from rising for whatever reason but they will not be successful long term. Gold are going to rise as the US Dollar weakens. (Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), SPDR Gold Trust ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG))