Whole Lot of Analysis.
Gold, Bitcoin, and Copper
Housekeeping: The price action has been unprecedented and content flow has been overwhelming. We are not writing up much as a result and opting to get info to you to decide what to read.
If you have questions, however, please ask in here. We will be in the comments tomorrow and Friday to answer them as well as previous ones missed. Thanks.
Every bank on Wall Street is now bullish Gold, Silver, and Copper.
This is what happens when the flows drive the markets higher, stocks are overvalued, and they cannot in good conscience tell people to put more money into stocks.
Big picture. This is bullish as awareness is raised at the retail ( Costco Gold bars), The small investor ( CTAs are long everything now), Hedge fund (macro buying Gold since March 1), and economic (our debt makes bonds a sale and the BRICS are selling).
Short term we do not know what it means for precious metals given this increased awareness is plowing into overbought territory. Sideways may be the new dip… who knows.
But you have to be nuts to think all these banks are all of a sudden discovering Gold and were not long for a month or so.
We want to buy the dip in gold, but are not. We may just sell stocks short a little.