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Well, here we are again. Every morning, it’s the same thing: all the equity futures up fractionally (which, over time, has led to a literal 900% run-up in the S&P 500 since 2008) and at lifetime highs, in spite of every scrap of fundamental data saying that valuations are in la-la land.
It’s stone-cold quiet this morning, so let’s focus on my obsession for a moment: precious metals. Over the past week, gold (by way of /GC below) has more or less meandered aimlessly.
Long-term palladium divided by the SPY. Simple as that: bullish palladium; bearish equities. Thy will be done.
Long-time readers know that a big problem I’ve got in my investment behavior is the inability to hold on to a good position for the long-term, except in cases where it’s inconvenient or bothersome to sell (such as various rental properties I own, my house, my one venture investment, and a safe deposit box full of gold and silver bullion). If I can sell with just a mouse click, I’m afraid I’ve clicked it WAY too many times in my life. Don’t even get me started!
I’m going to try to behave differently with palladium, however, since every ratio chart I look at is screaming BUY and HOLD. One day does not a trend make, but I’ve got to say, this is sailing along nicely so far over the past twenty-four hours.
