Yellow Ben - the Gold Bugs Best Friend...
We're about to be treated to our next Bernanke Moment.
The poor bastard is getting slapped around by
everyone from the Bond Vigilantes, to the
Gold Bugs, to Junior Rogue Traders in France.
Poor Ben.
He's already blinked when the market called. Then
along with Paulsen he tried to bluff, and again
the market called. Then he blundered by already
having his finger on the rate cut trigger,
nervously firing off .75bps of ammo on the SocGen,
junior rogue trader gone wild debacle.
And now ... Yellow Ben once again, becomes
the gold bugs best friend, and gets to turn his
blink, his bluff, and his blunder, into a BLAST-OFF.
-- rates are getting slashed.
-- the printing presses are getting cranked up.
-- the liquidity machine is running full throttle.
-- both the War and Deficits rage on.
-- money from nothin' checks are in the mail.
-- the U.S. Dollar is about to find it's rightful place
as a paper-mache pinata.
-- and Yellow Ben if he caves in once again...
is about to ignite Gold and Gold stocks to new highs.
His legacy is now written...
From Blink, to Bluff, to Blunder, and now -- to BLAST OFF!
Unless Blinky throws the market a knuckle ball...
the stage is set.
We had our "volatility trade" trigger profits on the
downside, and now we stand ready to collect on the upside.
Technically, the HUI 434 "money line" held on a
closing basis. And the old high of HUI 401 held on
an intra-day basis. Our trendline that looks to take
gold stocks to the low-mid 500 HUI range and the metal
itself to triple digits remains intact.
And now, Yellow Ben - the Gold Bugs best friend...
gets the honor of christening this move to new
all-time highs.
...unless, we find out the SOB doesn't squat to pee,
and he actually finds a pair, but don't bet
on that happening.
Mo later,
S.O.T.B. |
