The centre of the universe and due to re-trace, USD dropped under the 100 line very quickly this morning. The market has decided it likes the level of liquidity added by the Fed and the cogs are turning again.
I continued to annoy subscribers of The IKN Weekly last weekend by keeping the whole portfolio on hold and in the deep freeze. Since the initial crash it has been that way, but the last couple of days have brought signs of life back to the mining sector and a likely alteration to house timelines assumptions. That’s all a fancy way of saying there are potential trades beginning to show up, ones based on real fundies, rather than TA or a roll of the casino dice.
WE are now entering 1q20 production report time. Unlike the atmosphere of just a few days ago and with gold pushing above U$1,700/oz this morning, any beaten down PM miner that can offer a strong Q1 production number can expect alpha to peers. The game is afoot.