For several weeks now, I noted I’ve been waiting for certain fundamental and technical factors to come together for me to personally commit to a maximum short U.S. equity position through the ETF (SH). I just did so at $34.11. I’m being interviewed on Jay Taylor’s “Voice of America” radio show later today and hope to have an opportunity to discuss why.
Late last week, with gold looking like it was heading over $1,300, I suggested it appeared likely to first correct lower to previous resistance in the $1,260 – $1,265 area. We’re seeing that as I type. Here too, I hope to discuss more in detail on Jay’s show (we usually can post a replay of his show within 24-48 hours and will do so).