The long gold - short stocks trade worked well today as stocks slumped yet again while gold held its own for a short gain on the bullion front.
The story is really in stocks, and whether they can hold key support levels, and not slip into a liquidation sell off.
Although the dollar crawled a little higher, there was no flight to safety into it.
Today we remember the Allied invasion of Normandy, a time when ordinary men and women did real, heroic things for the benefit of the many.
"Your task will not be an easy one. Your enemy is well trained, well equipped, and battle-hardened. ...The tide has turned. The free men of the world are marching together to victory. I have full confidence in your courage, devotion to duty, and skill in battle. We will accept nothing less than full victory. Good luck, and let us all beseech the blessings of Almighty God upon this great and noble undertaking."
General Dwight D. Eisenhower, 6 June 1944.
