Hitting the Panic Button

World leaders announced the coordinated release of strategic petroleum reserves today in an effort to force oil and gas prices lower amidst rapidly rising inflation. The US, India, China, Japan, Republic of Korea and the UK are among the countries participating. WTI’s initial reaction hasn’t exactly gone according to plan. Traders, who have seen these … continue reading →

Update on Gold and Silver: Nov 19, 2021

With goldbugs calling for gold to double, we got bearish again when it reached our upside target at 1870.60 on November 10 [see: CPI: Out of Control.] Gold is getting a big boost from the inflation data, and has now reached the purple neckline at 1870.60. I would revert to short with tight stops right … continue reading →