Wednesday, September 17, 2008

"Lord, Just for Today (and maybe tomorrow) Give Me the Strength... short gold and buy broad equity indexes."
With the Dow down 220 and gold up $84.00 it's a good play but timing the fear of the crowd is a puzzle (hence the "maybe tomorrow" hedge).
On news of the Fed running out of ready cash we saw a bottom at DJIA down 400 or whatever it hit. The removal of naked shorting meant that anyone into that type of thing had to do it today.
I swear this is an actual MarketWatch headline:

SEC stiffens rules on 'naked' short selling