“Basel III is...for all intents and purposes, the catalyst, the deadline that forces people, whoever is short,whoever is naked short. If the regulations go into effect as planned, the implications can be profound. Someone is going to get caught on the wrong side of this trade. Someone may have already been caught on the wrong side of this trade and is being slow-walked to the gallows to not upset people.”
Good Morning
Gold hit a new all-time high Yesterday, officially reaching our personal measured move target. While a push toward $3,000 is possible, current technicals alone do not support that call. However, broader macroeconomic and market dynamics strongly argue for $3,500 and beyond, given the way things are developing.
