Post by
cleareye on Sep 26, 2023 9:51am
Still optimistic
It's a difficult week.
The US dollar index 'almost' broke out above 106.1, going as high as 106.16 or more overnight. However, it is back around 106.0
The 10 year bond yeild is backing off - or at least banging its head on resistence.
Gold is getting beaten up but it remains above 1900.
The gold miners seem resilient.
The markets have jitters - we are approaching the month of October - the month of most catastrophic drops.
But, I am optimistic that krr.to will do well and that we are around the bottom - that we have touched several times since last March.
The market data coming out on Friday, giving more indications on inflation and potential interest rates, is extensive.
I remain of the opinion that Jerome Powell has no intention of decreasing interest rates after he fights his way up towards 5 or 6 percent. He has seen the devastating effects of near-zero interest rates in North America and Japan.
So, I base my optimism on gold and krr.to on current interest rates - not on some dream of helicopter Ben returning.
Good luck. (Yes, October is crash month.)
cleareye.