Thanks. So it looks like countries are selling whatever is liquid in order to pay the bills, etc. McAlvany also points out that during the big metals runup, traders had piled heavy into the leveraged 2X / 3X vehicles, futures, options, etc. So things got way too speculative and frothy, and now we pay the price.
But even with the big sell off, I'd still like to see GLD and SLV fall to their 200 MAs before considering adding to positions. Either way though, I'll probably just hold the line at a 28% allocation to keep things balanced. The volatility of the metals is too hair raising for me, lol.
With gold, McAlvany noted 4100 as a key target / support area, and while it hasn't reached that level during regular trading hours, I see it actually did hit 4100 briefly in the overnight futures market last Monday at 3 AM. That doesn't show up on the regular charts though, which gives the appearance that it still needs to re-test that lower level again during regular trading, to get the charts looking 'right'.
2026 is looking like a lousy year for investing. With everything selling off, some good bargains will appear, but it might be too risky to jump in due to the looming global recession, the unraveling of private credit markets, etc. Too many landmines imo, but we'll see what happens. Trump's bungling has thrown a wrench into everything, first with the mega tariff lunacy and now with this crazy war. I'd like to find a quiet deserted island someplace.
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