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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: glenn_a who wrote (96297)8/15/2008 7:00:00 AM
From: TH  Read Replies (1) of 110194
 
glenn,

<((The inflation data today was probably allowed to go out hot (meaning not as adjusted as it has been for the past few YEARS) in an effort to convince the mindless wall street squirrels that it is actually meaningful/accurate and not yet reflecting the oil and everything real correction.))

Hmmm.>

Every head is spinning this number as rearview. Looks like a nice setup to smack the POG again next month when the data is released. And probably the data will be gamed to show the maximum possible cooling of inflation.

I see the dollar rally as a REQUIRED action. The game had run out of plays and the activity of the PPT, be those actions large or small, could not push the market any higher. The dollar reached a critical level and baselined for months. I assumed, incorrectly btw, that the dollar was being supported right at 72 to prevent a move down into the abyss. With the massive <potentially> bailout of Freddie and Fannie, and the ever increasing deficit, I again incorrectly assumed the dollar was going to finally break that 72.

So, now we have a fairly sharp dollar rally and a run for the exits on gold. The driver for me for gold is the massive entitlements against dollar and not so much the price inflation game. Again, it appears that no one but goldbugs or goldbulls has any concern with this.

I'm holding all my bullion, but I'm at a loss at this point as to what to do with the very small miner positions I'm still holding. Someone posted recently it was too late to sell and too soon to add. That sums it up from my perspective.

GT
TH
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