Yep I remember. That is what she said.
People probably mostly took it that she is having to defend the decision to rate hike back in December (to her own self) and if she has to defend it then and no one is even talking about it then sub-consciously she is shaky about it herself. Which means she would be even more shaky about future hikes. That would be the thinking among wall st I would guess.
That would lead to a market rally and oil rally etc etc and drop the dollar. All of this happened. Makes sense, except for one thing. Gold didn't really rally that much, I mean eh it went up some. The miners went nuts though. That is the one disconnect.
Anyway something like that (Yellen yapping) can cause a 3 or so day move. It was Thursday night so 3 trading days have completed since. Most and myself included believe the FED will do 1 raise this year and it will be in September or December. If global growth actually gets going then maybe one in June but I doubt it. Most already see it this way. Matter of fact wall st only expects 1 hike this year. If the miner pump job was ignited because Yellen said the Dec one wasn't a mistake and hence people think there will only be 1 this year then absolutely this miner pump job will end very soon as that is not new information or unexpected information.
Gold is going to have to get passed 1264 and then 1280 for this pump job to continue though. Miners can't stay disconnected from gold like this for too much longer. I only think now that GDX could get to $27 if gold gets passed 1280 and tries to get to $1300. The pump job isn't going to cut it and get GDX up there if gold doesn't participate.
Knowledge + risk taking = prosperity
