I closed my SWGVA's this morning....on the Purchasing Manager's Crash. I just went short again, this time in QQQQ ...I'm thinking we'll see a rotation in this decline...
Week of September 7
Review and Preview
It was a pre-holiday week—the week leading up to Labor Day on Monday when U.S. financial markets will be closed. But for precious metals, last week was far from quiet as would normally be expected. Gold soar back to test $1000 per ounce, and Silver returned back above $16.00 per ounce. Less than two months ago, Gold was testing $900 and Silver was below $12.50. And the currency markets were relatively quiet, as bankers completed their summer holidays. So it wasn’t a case of the Dollar falling that gave a spark to Gold and Silver, as is usually the case. And stocks did not move that much either. Precious metals moved on their own, and that may be cause for concern in a mundane sense. Usually this kind of move in precious metals is related to a sense of a forthcoming crisis. Who is buying Gold and Silver? And why? From a Financial Astrology perspective, the third Saturn-Uranus opposition is approaching September 15. This is a signature that can coincide with a crisis, as it did last year. We will discuss this more in “Longer-Term Thoughts.” [more]