Back To Cash, Gold, Inverse Emerging Markets

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May 10, 2010

Took gains in everything this morning. 2x funds SPX, NDX, and RUT at the morning price. Although waiting until the end of the day would have yielded better returns, I wasn’t about to chance losing the 8-9% morning gain.

I also took my gains in X calls, CENX stock, TEVA spread, and took a small loss in WMT spread. A VERY NICE day today.

Bought IAG, reduced my positions in DGP and AGQ because I thought they were going to get beaten up today, but they held in there nicely. I will buy it back tomorrow possibly. Also bought some BZQ.

I want to reload all my European and Emerging market inverse ETFs plus Inverse China FXP, and add to gold. These are the most defined moves right now. The US markets require a bit more information, but the early signs are telling me down.

Posted a bunch of charts


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  • annacoulling

    Gold has now broken above the previous top of $1225 per ounce and now looks set to soar. Many are worried that it cannot possibly go anyhigher. My own view is that on an inflation adjusted basis $1200 per ounce is still only 50% of the 1980 high – so there is still some way for it go and with all the short term technical indicators pointing sharply higher the recent sideways consolidation will provide a solid platform for any pullback.