Fool’s gold and fool’s euro…

Posted on Oct 13, 2011 by in Uncategorized

Jim Rogers said one time that people envied his ability to catch the top of markets.  What they didn’t know he said was the 7 or 8 tries he made to do that.  Color us Jim Rogers.  On this thin chart pattern (broken trendline, broken horizontal line by a hair) we shorted the TLT by buying TBT.    As we keep saying a fortune is going to be made short bonds, and we are going to squander a small fortune trying to catch the top.

We also closed our gold short because we didn’t like the way the putative “flag” was shaping up.  The prudent investor (color us Jim Rogers in a flaming red) will not buy or sell gold until the boundaries of the pattern are pierced.

Also (sigh) we bought the FXE because of it’s chart pattern.

Now we can turn to more important concerns.  Dee-troit.  Dee-troit may fall to the Rangers who we detest.  And hopefully will fall to the Niners, who are rightfully America’s team (except for Texas).

We will look at the major market matters over the weekend.

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