Been holding out on goldies as i expect ECB QE to be the final nail in the gold coffin for this cycle. Amazing how goldies have bucked the trend. To me it looks like they have finally priced in the oil and forex benefits that were clear sometime ago, but presumably the overall market sentiment was overruling the calculators until recently. Annoyed that I've missed the run, but expect i'll get another opportunity in the coming months as the fundamentals have not changed.. In the meantime I expect there may be some money to be made in goldies and oilers short term if USD can top out at 92-94. Will see how ECB meeting goes tonight and look to make a move tomorrow pending the outcome.
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The Brains Trust - 2015, page-227
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