Sentiment has remained compressed in these “risk-off” trades, as stocks have remained near their highs on neutral sentiment. I’m expecting sharp reversals in the near future, though I am long-term bearish on the yen and gold for fundamental reasons.
Sovereign Speculator
Thoughts on the markets and economics from a lone, wandering participant.
are you not bullish long term on gold and in that case why not?
do you have the same view on gold stocks? (HUI-gold stock index)
No, I’m not long-term bullish on gold or gold stocks anymore. I was several years ago when gold was historically cheap relative to other assets, but now it is expensive when measured against most commodities, real estate, wages, consumer goods, etc.