01 December 2011

Gold Daily and Silver Weekly Charts - The Pause That Refreshes?

I changed the weighting of the long gold - short stocks pair back to 'neutral' to slightly short.

There might be some tax loss selling in early December and headline risk remains highly elevated.

Still it is wise not to underestimate the Fed's willingness to debase the currency for their friends.

As a reminder, the Non-Farm Payrolls Report is tomorrow.

I still think the Europeans should nationalize their troubled banks and let the US take care of its own. But that seems rather unlikely.