8 February 2017-

My judgment on gold seems to be working as gold is moving higher.  I think current level of 1240 is not the end of long trend. There might be a correction to watch for. During the week I reduced my positions on gold and jumped back again as priced started to rebound after a fall. Oil is till moving at the range. I reduced my positions to 2 contracts.
   Despite oil cuts news over the week is being compensated by rising oil inventories reported by EIA in US inventories.
 I do not think Oil will be a good opportunity as a commodity to make a return on that, Move should be towards US stocks and gold mostly.
I covered my short positions in S&P 500. I am thinking to jump in into moving train. I am for now staying on sidelines.
I am still short in long term US bonds which I will be keeping my position for some time. Inflation will drive bonds lower. I believe Trump  will focus on pro growth strategies.

 

Most of my positions are in gold.  Probably will keep it that way for now.

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Note: I will not be able to focus this month on the market. Therefore, my opinions are more likely to be wrong than right.
 
 
 
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