Hey Dominic. Typical that Silver punched you in the face after you posted this earlier today. ;) What a day for those of us heavily long the USD, but it sucks for the UK and anybody who lives here (including me), and today's price action in Sterling is very concerning. I have close Family who are not hedged up to their eyeballs in Dollars and Gold, and today's market moves have shades of 2008 and March 2020 about them. The VIX seems poised to enter what Keith McCullough of Hedgeye refers to as "The F*** Bucket of Volatility", and that's pretty much what happens to all equities in all sectors once VIX moves above 31. Speaking for myself, I'll be watching both the energy and precious metals sectors for signs of relative strength in the face of any further more disorderly market declines. The part of my portfolio I actively manage hit new 2022 highs today, and this would not have happened if I hadn't been so long the Dollar. Will be looking for opportunities to layout the gameplan for my next play when Jay Powell is effectually forced to pivot. Hope you got through today okay.
Gold/silver ratio at 95 did look extremely cheap over recent weeks. Trading around 85 this morning so still plenty of room left to get back to historic mean levels in the 60s. If it goes to zero as your post today inevitably implies, my plan is to corner the market 😀
Hey Dominic. Typical that Silver punched you in the face after you posted this earlier today. ;) What a day for those of us heavily long the USD, but it sucks for the UK and anybody who lives here (including me), and today's price action in Sterling is very concerning. I have close Family who are not hedged up to their eyeballs in Dollars and Gold, and today's market moves have shades of 2008 and March 2020 about them. The VIX seems poised to enter what Keith McCullough of Hedgeye refers to as "The F*** Bucket of Volatility", and that's pretty much what happens to all equities in all sectors once VIX moves above 31. Speaking for myself, I'll be watching both the energy and precious metals sectors for signs of relative strength in the face of any further more disorderly market declines. The part of my portfolio I actively manage hit new 2022 highs today, and this would not have happened if I hadn't been so long the Dollar. Will be looking for opportunities to layout the gameplan for my next play when Jay Powell is effectually forced to pivot. Hope you got through today okay.
Gold/silver ratio at 95 did look extremely cheap over recent weeks. Trading around 85 this morning so still plenty of room left to get back to historic mean levels in the 60s. If it goes to zero as your post today inevitably implies, my plan is to corner the market 😀