Gold Breaking Out And May Be Ready For Another Surge As Indications Of Chaos Appear

Friday, April 8, 2016
By Paul Martin
April 07, 2016

Today a famed short seller said gold is breaking out and may be ready for another surge as indications of chaos appear.

By Bill Fleckenstein President Of Fleckenstein Capital
April 7 (King World News) – Overnight equity markets were pretty uneventful, though our stock market wasted no time surrendering most of yesterday’s gains in a little less than 90 minutes, which I found interesting. Of course, any weakness I find interesting because I think that is the next big direction, even as I have tried to be very careful not to jump the gun in concluding when the downtrend might reassert itself…

Well, OK, Just a Bite
Today’s weakness looked a little more meaningful to me (finally) so I bought a small amount of puts on some of the semiconductor companies that supply Apple. Whether the bear market rally has ended and we are starting back down I don’t have a strong feeling, but it is certainly possible and I really don’t think the market is ready to withstand what we are likely to get during earnings season. That said, given the macho nature of the rally I want to avoid being too early in trying to capture downside action, so I am sizing my positions accordingly.

The Rest…HERE

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