I am feeling bullish. This happens to me sometimes when all the incoming stuff I get affirms the Armageddon scenarios coming out of the systemic risk camp. This usually happens when a trend (in this case a violent consolidation - if there can be such a thing) has been in force for so long that peoples' emotions begin following the trend.
Gartman is out again with his pap for the hedgies (you know they are usually wrong sided, right?), scary MF Global implications are coming in daily now, and all I can do is continue to highlight the 'systemic risk' in NFTRH (if actualized, the system ends and this has not changed since 2002-2004, when I first became activated about the debt problems in the financial markets), manage conventional risk (it is fairly low as long as SPX remains above support). I realize that the government is due to report its finances this month, the FOMC is on tap, Europe is falling apart, people are deathly frightened and gold... gold is getting blown up by the forces of evil. Well sort of. A normal correction is what I'd call it.
This is how I am trained. I get bullish at times like now. Am I buying? Nope. I love my cash at the moment and hold my core with little fear at the moment. This could all change and devolve into a real systemic event when all is said and done, however. The system is going to end you know. But if things remain symmetrical then we are in a type of environment that usually precedes bullishness in the precious metals. They have been clobbered and all the bull hysteria of recent months has been drained as Team Gold Bug scatters back down Hamburger Hill.
In other words, I have seen this movie before.
People should have been managing risk years ago and continuing to do so up to and through today. Aside from that, I am feeling bullish. Let's see if it is the proper impulse.
Edit (3:53) I could not help myself. Added back a certain silver miner that has been part of the NFTRH core in the past. Bona Fortuna!
http://www.biiwii.blogspot.com
http://www.biiwii.com
Gartman is out again with his pap for the hedgies (you know they are usually wrong sided, right?), scary MF Global implications are coming in daily now, and all I can do is continue to highlight the 'systemic risk' in NFTRH (if actualized, the system ends and this has not changed since 2002-2004, when I first became activated about the debt problems in the financial markets), manage conventional risk (it is fairly low as long as SPX remains above support). I realize that the government is due to report its finances this month, the FOMC is on tap, Europe is falling apart, people are deathly frightened and gold... gold is getting blown up by the forces of evil. Well sort of. A normal correction is what I'd call it.
This is how I am trained. I get bullish at times like now. Am I buying? Nope. I love my cash at the moment and hold my core with little fear at the moment. This could all change and devolve into a real systemic event when all is said and done, however. The system is going to end you know. But if things remain symmetrical then we are in a type of environment that usually precedes bullishness in the precious metals. They have been clobbered and all the bull hysteria of recent months has been drained as Team Gold Bug scatters back down Hamburger Hill.
In other words, I have seen this movie before.
People should have been managing risk years ago and continuing to do so up to and through today. Aside from that, I am feeling bullish. Let's see if it is the proper impulse.
Edit (3:53) I could not help myself. Added back a certain silver miner that has been part of the NFTRH core in the past. Bona Fortuna!
http://www.biiwii.blogspot.com
http://www.biiwii.com
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