The Brains Trust, page-8342

No – I am not going back to writing my notes every morning but a couple of things scream out for attention this morning ……..

For weeks I have been saying that I didn’t think that Wall Street could form a top while my Geniuses didn’t have all their money in. Was coming to the conclusion that for the first time in all the years I have been watching these idiots fund managers that they might have got this top right and holding back their cash.  So what do they do this past week – dive in.  Leveraged long.  Just when, as I mentioned a couple of days ago , I was concerned my “whosh” higher was nearing an end.  And some people wonder why I have such a cynical attitude towards markets.  Looks to me that my Geniuses have done it again!!

And with gold – mentioned a few days ago that I had a little hint that we might have formed a low. Just one word to describe this market – PALLADIUM. Looks to be leading again and while I would have liked a bit more evidence on the gold market, palladium was at a 16 year high.