To recap; I sold all metals and metals related holdings last Thursday into Friday’s opening.

The decision was entirely based off Gold reaching a 5 decade target coupled with the end of Dawali buyers.

Yesterday I looked at buying some back but preferred to wait, hoping to see Silver trade back to its qtrly pivot for trade location.

I’m in no hurry to do anything.

As previously stated this could just morph into a giant trade
until February.

Gold/Bonds has an ugly weekly pattern.

Metals /FX spreads show downside in the Metals can abate in here, but it won’t be a clean look to do a trade.

Silver is the key to the metals holding up.

NFLX looks different on all time frames.

Nomi Prins put out a piece on Aluminum today.

I have to look a little deeper.

The one takeaway is the China output argument in this thesis which I’m not on board with.

She is always worth the read!