Ann: General Security Agreement, page-775

@Noobtrader1 spreading is holding both combined-long and combined-short contracts. You don't need to factor spreading when working out nett positons. Just the nett difference long and short.

@ASXO The problem the US face at the moment is stagflation. A slow down in economic growth & rising inflation. It's the perfect scenario for gold.

The last time this happened was in the 70's and the POG went brutally parabolic. below is a link to a simple summary of what to expect

https://www.investopedia.com/articles/economics/08/1970-stagflation.asp#:~:text=In%20the%201970s%2C%20Keynesian%20economists%20had%20to%20reconsider%20their%20ideas,with%20high%20rates%20of%20inflation.


The US is in an even worst situation at the moment.

• There is a constant rising number of people on unemployment benefits and not working
• The extreme level of money printing
• The major debt problem they are in and the inability to raise their interest rates.
• Massive slow down oil production and exploration going to lead to higher prices. The arabs are cutting down production & the prices are too low for US companies to produce it profitably. EV's are decades away from mainstream adoption as the infrastructure just isn't there to support a economical widespread adoption. It is a pie in the sky dream in the near term.
• Rising CPI inflation going through the roof and the FED cannot raise raise interest rates to contain it without triggering another GFC (This time on steroids)
• There are some already front running the stagflation narrative over the past month. The fed are no the only ones buying bonds.
• The narrative of economic growth and recovery is horse shit. Spending stimulus money isn't a strong or growing economy.
• It makes no sense buying low yielding long term treasuries during periods of high inflation unless investors are backing that the inflation will be transitory. Which is likely will, but, over a longer period of time. Years, not months.
• I'm sure investors will be allocation some money to gold, but they all can't, the market cap of gold, is tiny when compared to that of the bond market.
• Expecting a period of strong bullish sentiment as investors look to adjust their portfolio and increase their holding in bonds
• The FED will continue their bond purchasing mandate & yeild curve control.
• We know POG is pegged back to the 10 Yr yield and moves inversely. As long as yields are capped and falling, we good!!!
• Over the past 4 weeks, we have seen a reversal in sentiment in gold equities
• There is never a better time for funds to front run the next bull market, the narrative is perfect and the timing is now, funds can multibag billions!!
• Nearly all sectors have been performing shit over the past 6-8 weeks, ain't been many that have done well. Most likely would be down a fair bit across the sectors they play in. For example the BNPL space as been raped hard. APT, Z1P etc and the market is frustrated.
• The Gold Sector is primed for a hard pump! Starting to see some big moves in some local ASX peers. As the momentum picks up, the entire ASX market will be wanting to go along for the ride, all a bunch of degenerates with pent up frustration looking for a Green Fix. Will probably see some overshoot fair valuation by multiples and the market won't give a f* because it is where the action is!!!!!
• DEG is the big brother we all look up to, they have paved the way, set a new all time high and the new bull run has only just started and POG is still under $1800. All hail DEG. A strong Staunch Unit!!!
• TSO is primed, low Market Cap, plenty of catalyst and news flow or multiple re-rate and gap-up in valuations. Continual drilling for the next 12 months. Expanded and next targets towards the east to be drilled in the coming weeks, MRE, Scoping study, Final Resource, commencement feasibility, drilling testing other targets, exploration and drill testing broader regional concessions. f* me, won't take much to see some really violent aggressive moves up. A fund could front run TSO (with say $3-5 Million and Gap up the SP to $1 if they believed the ann is a strong enough of catalyst such as a Third/Fourth Ternera discovery and the momentum from the trend would carry it through.
• There will be many others that will be experiencing some strong moves up!!!
• Some may think it'd over overvalued, some think undervalued, funds don't give a f*, they'll take it wherever they want to take it and the broader market won't give a f* aswell, they want to play and will come along for the ride

Ofcourse Keep Watching The 10 Yr Yield, that is the key. We want it steady below 1.7% and falling down to 1.2%. Want CPI to be rising over the next few months and hitting 4-5% by August