Bobby, I am primarily a short seller. That is my expertise in these Markets. I sniff the Bear, Know the Bear, Hear the Bear, Sense the Bear, Feel the Bear. I don't know how I have acquired it, but I've always had it. I'm very mediocre on the long side.
I sympathize with gold bugs. Gold is so hated by most people that it will only rise after funeral services are performed on the S@P and Nasdaq. That day is coming soon. I'm been saying Kaddish for the US Stock Market for a few days already.
I've been bullish for 16 years and made out good. I even told Nostradamus on SI in 1997 on the Millennium Crash Thread that this bull had much longer to run:
To: Nostradamus (389 )
From: Rarebird Wednesday, Aug 20 1997 1:12PM ET
Reply # of 4381
Your the big KAHUANA HERE, NOSTRADAMUS: By the time your scenario plays out, we will be so much higher than you think, that your fall will merely take us back to the levels today that your babbling and screaming about now!
It's over, Bobby. This Bull is Dead. Anyone long this market, especially financials, is going to be taken to the cleaners, if they haven't been already. I can afford to be patient with Gold. I'm basically a shortseller.
The only negative here for Gold is higher short term rates. This is why it's down today. The XAU HATES rises in short term interest rates. Higher short term interest rates is The DEVIL for the XAU.
When their is no where else to go and the US financial markets are proclaimed DEAD , Gold will soar. That time is coming sooner than one thinks.
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