I have lightened up on my bullion longs, and taken down some of the paired trade hedges on the other side. I own no miners at this time and my leverage is nil. I am interested in the short side of US equities but am biding my time. They did not break until the second week of January last year as I recall.
My short term bullion positions had grown to be my largest ever, as I felt more confident than usual that 1370 gold and 28.50 silver would hold support and that the selloff was very artificial. These jokers are not all that subtle at times. Their market manipulation has been particularly bold and heavy handed of late. Too Big To Fail or Prosecute apparently.
This lessening of my positions, however, has less to say about what I think is going to happen next, and more about my personal circumstances. After the New Year I will once again be preoccupied with non-financial things that are much more important to me. I should have plenty of waiting time to keep abreast of broader events and will maintain posting.
Money is necessary and we must provide for ourselves. But family and friends are to the heart of our priorities, our life. Things can be replaced, but people can't. And of course, God is all in all.
“Bankers know that history is inflationary and that money is the last thing a wise man will hoard.” Will Durant
