Last Wednesday, before Powell spoke, I dumped my IEF long position for a minuscule profit. I’m glad I did, because the price sank in the days that followed. I have re-entered the position, pushing the entirety of one of my portfolios into IEF. This is just a place to wait for PALL to work its way down to a good price, at which time I’m convert all my IEF into PALL instead. As it is now, I just want a boring place for my cash to hang out while (hopefully) precious metals pound their way to an attractive price point.
