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The long-term charts are all saying the same thing. Long gold. Short stocks. Whether it’s silver, gold, the Dow Composite, the Russell 2000 – – mix ‘n’ match as much as you like – – but if you divide some kind of broad equity index by some kind of precious metal, you’re going to get one of these massive reversal patterns that has stood the test of time for decades.
I thought I’d mix things up a bit by actually sharing a bullish chart. Below is Instacart (symbol CART).
My two unabashed bullish calls – – gold and bonds – – have been doing fine. I think precious metals are going to ease back for a while, but bonds seem well positioned to make another push higher.
My general theme is that not only are interest rates going to fall, but they’re also going to keep falling to the point where it finally dawns on us all we’re in a severe deflationary environment. All this celebration and back-slapping about interest rate cuts is going to lead up to a holy-crap moment.
