...yep, unfortunately I believe it is. Nothing could make me happier than if GLD ruled for the entire year. After all I'm called gldtimer. But being a timer there's a time to buy and a time to sell. The economics don't appear at this time to support the yellow metal...lack of SLV support on the inflation side, and rapid global growth This is how I see the year being played out.
The industrial production/cap utilization was very impressive. So impressive that it now puts the Fed one full percentage points (four 25% rate increases) in the accommodative column. That means if the capacity utilization remains unchanged for the year the Fed will most likely raise rates four times!
Once the market realizes this the dollar will become the black hole as it strengthens sucking all global bonds and stocks into it. My asset of choice will of course be PST in the beginning stages and SJB when things really start falling apart. This has us moving back into a super hot +200 degree spring and then falling into a -200 degree winter. Should be a fun year.
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