As I mentioned at the start of my True Gold post on Sunday, I’ve had my fill of the whole bearish thing. My avatar is just my face, not a bear. My x.com profile doesn’t even mention or hint at anything bearish. I’m just……….Tim Knight. Nothing more.
Having said that, I have ONE and ONLY one bearish position left, and I’m going to stick with it until the bitter end: EFA. Looking at it over the past four months, it’s nothing special.
The longer-term chart, I think, shows my rationale. We are crushed right up against the broken trendline. Not only this, but I have a hell of a lot more faith that global markets will be “allowed” to suffer as opposed to the COMPLETELY corrupt U.S. markets, which have vermin like Yellen at the helm. The U.S. is utterly fraudulent, and I’ve had my fill. More than my fill.
Not that you should care, but my position is a ridiculous number of May 19 2024 $79 puts. They’re in the money and have a very reasonable 74 days of life, which is plenty of time for something – – anything!! – – to happen in the world which would allow the market to sink for more than three seconds.
The bottom line is………..I’ve giving bearishness this one final chance. EFA, it’s time to put up or shut up. You have 74 days to do so. We’ll all be watching.
