Buying Rubles In Cash

2025.43 held yesterday. The S&P tanked. 2007.41 is the new level of interest for me. Actually, it's 2001.24.

Closing below 1980.60 (38% Fib support level) would put pressure on 1960 (volume shelf) and 1947 (200dma).

Today I am putting in a standing order for $1,000 worth of Russian Rubles in cash at 80 USDRUB or better. Russia has a low debt/GDP, positive current account, and vast resource wealth. This is a hedge against the future of the dollar in about 20 years.

$1,000 doesn't sound like a big deal, but it's something I want to do with about 20 currencies around the world whenever there are dislocations. You might call it the ultimate buy & hold strategy.

Elsewhere, notice the yen gets stronger whenever the shit hits the fan? The markets are bigger than Abe & the BOJ.

Notice oil is starting to wedge and its rate of change is slowing dramatically? Oil can go lower, but nothing goes down forever.

Notice the 30year bond got above its October 15th high last night on lower volume? The last thing the markets need is rates rising for the wrong reasons.

1186.40 is my stop level on gold. Last night, gold got to 1191.30. I don't want to see it below 1200 now.