They say that when the "shoe shine boy" starts giving stock picks that it is time to get out of the market. Over the last few days I have had several people who I would put into that category tell me they are going to buy gold and that the dollar will be devalued and that there will be a QE 3. They might be right but the herd is usually wrong. I have sold a little of my core gold and silver position on this move up. The next week or so could see some surprises so I have reduced my exposure.
I am still short the Euro and long the Dollar. There is a 2% risk I am willing to take and I see a 12% potential profit. There is no question that the Fed is trying to keep the dollar weak but if Europe becomes chaotic the dollar short squeeze will be enormous. I am long EUO at these levels and a little higher so the trade is offside at the moment.