May 25, 2009 – I would like to get short again, but the T-note did not bounce up to the level I was looking for. It was a sign of weakness, and we have now seen that weakness play out as T-note prices have collapsed.
It would not be unreasonable to sell short here, but I don’t recommend that. I do not want to chase this trade. So for now, I recommend that traders stay on the sidelines.
I have been noting in recent letters that the odds have been improving that December’s top in the price of long-term US government debt instruments is their final peak. With each passing day, that top looks more and more certain.
My objective is to share with you my views on gold, which in recent decades has become one of the world’s most misunderstood asset classes. This low level of knowledge about gold creates a wonderful opportunity and competitive edge to everyone who truly understands gold and money.
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