Thursday, May 22, 2014
Fear & Loathing in Las Vegas
“By any accepted standard, I have had more than nine lives. I counted them up once and there were 13 times I almost and maybe should have died. ” Hunter S. Thompson
Apparently, the same is true of dead cats and precious metals… Or for that matter – the dollar, the euro, the yen, the Nikkei – heck, it’s Clash of the Titans – but no one looses. Case in point, while as much as the SPX refuses to roll – the same is true for precious metals. And although the US dollar is wounded, the euro can’t quite seem to break out. The Nikkei, which has limped with all the vulnerabilities of a lamb at the alter, has evaded judgement once more and its apparent contractual retracement obligations.
Nevertheless, and similar to Thompson’s unfortunate and self-directed fate, we are still of the opinion that dead cats are not really living – moreover, silver and gold remain precious positions to hold.
- Charts & Annotations (Click to enlarge image)