Pulling Back

As it is usually the case the dollar and commodity trades are correcting back, undoing the extreme positioning they built in during the last couple of weeks.

I have tried to point out the possibility for this type of move (whether it is a counter trend move or something else).

I would tell you to file this under "this is just how markets work." I do not have a real opinion about how far these assets could correct. I have exposure, both direct (the GLD ETF) and indirect (stocks from Australia, Chile and Brazil). I don't think the long term concept is in trouble but I would not want to have 20% exposed to this stuff either.

I am under the weather today so posts will be short.