under performing, page-103

I am not so sure it is "buy rumor sell fact' wrt to US equity market though. Despite all the talk of unsustainable stimulus over the decade form QE to not reducing bond holdings and reinvesting bond dividend back to more bond buying, the token IR rise twice from memory or thrice, the economy through the stock indices 'thinks' it isn't a concern for expensive money to fund the growth. The 5yr TIIPS is indicating the economy is inflationary and it is rising. This pricing has a negatively effect on gold price for a few years in the correlation complex. Just as The Feds can artificially suppress IR rise through QE/bond buying surely it can increase the bond yields by reducing bond holdings at the same time anticipating the Tax cut to kick in eventually to neutralise the 'expensive' money and and remove the money supply through the bond selling.

The only way I can see why I still want exposure in gold sector is because in this scenario and Oz economy plays catch up in the growth cycle is by looking for domestic producing operations. This removes the strong USD from the picture. If I casually look at this sector I can see the uptrend gold stocks which are incidentally mostly earning in AUD while those exposed to the FX complex are going nowhere.

Had you been punting against the US and for that matter other major global stock indices for the past 2 years, you would be going backwards pretty fast. Have a look at the Oz healthcasr sector exposed to US markets, testing highs or still searching for a peak! Next comes the industrials exposed to US markets, all rallying.

My problem is sometimes the short time frame minded so I was mildly successful in the industrial sector and caught the little shaking before it continued recently. Ditto healthcare. Base metals are mounting a comeback; Zinc, IO, Nickel all doing well and associated with economic growth in the building industry. The latter is catching the Li tailwind.

I am adhering to the philosophy that in a bull trend I always dip buying lookout rather than picking the top. Unrewarding in the past for me personally. Good luck.