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Politics And The Markets 11/05/24
26 minutes ago
4 comments:
Hi John. I really love your blog. You definitely know what you're doing. It's really cool how you share all this knowledge with others. I want to get your opinion on gold if you don't mind. Obviously it had a huge run up recently, but I see two trains of thoughts among traders. Some think $HUI should pull back from here possibly retesting bottom trendline before the next push higher, while others see it consolidating right at the 50ema before a launch higher. I tend to agree with the latter, though a tad risky. I think the bulls have control there for one more move higher. Seems like a bull flag forming. What do u think? I also like SRS. It should run huge after a short pullback in the next few days...check it out. Got in at the low $70's.
comments like this keep me going. I'll have an analysis posted as a Reader's Request feature.
Re: opening lines of your 'blog' .. "why should we rush ..(bailout).
When conf.in Dollar and US in general causes bank runs in China and the rest of Asia .... that is a stick in a tender spot to get all but the dead to start moving with great vigor. When the largest owner of T bills starts talking about dumping them and going to Euro's it is (IMHO) time to get moving smartly.
I hear more and more congress. reps talking like this bailout can wait for months or years "because the world will wait for us." Senator from oregon. Duh, I be well informed.
Got a take on this?
cheers, tom
I dare China to dump all their T-bills. They won't dump all of them. If that happens, the T-bill market will collapse. Since this is a global market, the effect will come right back to bite China. If the U.S. suffers, it's not good for any country. We are all dependent on each other.
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