Sorry subs didn’t get this out earlier, but really nothing of note that differed from our quick hit posts on earnings late yesterday. The GFBP Positions Tracker continues in defensive hedged long mode. We patiently, too patiently missed big moves in Silver, but you can’t win them all and continue to watch the bonds for a move back down to get long. They are curiously strong and we say that with a bit of trepidation as we wonder if something in equities will finally break and catch down to where bond yields are currently trending.
The GFBP Positions Tracker saw no changes, but we are waiting to reassert Short NQ positions vs SP500, R2K & the DOW, as we feel the Tesla inclusion will force a lot of repositioning and adjusting. Silver continues to shine and that is a train we will not step in front of (Hunt brothers anyone???) Although Gold basis is negative and that is strange but someone recognized the spread and no doubt bid the crap out of the futures as we suggested months ago if we …
