Wednesday, June 14, 2017
so today, re GDX....
So today, everyone thinks Janet Yellen is going to raise rates another quarter point, despite inflation being nonexistent in the US.
Of course, she has to make her decision based on future expectations a year out, not based on what's happening today.
But all previous one-year-out future expectations that have come from the Fed have proven to be a joke, and maybe at some point the Fed hawks will realize this.
Then again, Trump is supposed to pursue inflationary policy.
But then again, it's not like the Republican House, Senate and WH have demonstrated any ability to accomplish a single fucking thing so far, and who says Trump is even going to be around 6 months from now?
So there's no way to pick a direction.
I would have bought gold miners yesterday at an RSI of 50 and at SMA(200) support, except then I caught myself hoping that the trade would come out positive. If your trade involves hoping for a positive result, you should get the fuck out of that trade.
So I'd like to see what happens today before taking much of a position.