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Jane, TVX and DROOY both came back down, I'm in both, lot's of leverage on both. I sold all of the rest the other day on the IMF news. Look at the charts on TVX and DROOY, awesome. The most disturbing thing to me is the Yen, down to the high 120's, now I ask how? This is what I think: Japan is starting to dump US treasuries and is buying gold. Last year in June or July, Hashimoto threatened to dump the US dollar and buy gold if Clinton and the US didn't do something to strengthen the US dollar, now the US dollar has weakened, so why not take profits on it, and then where do they put their money? Gold? Clinton may resign, Clinton may be impeached, Rubin may resign? Tax loss selling is here, stocks will go down, the market will go down. The world holding US dollars is worried, I understand Japan has 2/3 of all of the foreign invested US dollars out there. If they dump, gold will pop. Gold and the stock market move inversely, if you believe the stock market and the US dollar are going down, buy gold. It's volatile, you can trade it, I have been in and out of gold stocks 4 times, gold goes down on any sign of calm and positive economic news, and up on any turbulence. IMHO. |
