I teased this in Chart of the Week on Tuesday, but if you missed it, perhaps you saw Pam Bondi at the Epstein hearing deflecting questions by saying that we should be focused on the fact that the Dow Jones Industrial Average was above 50,000.
If you’ve been reading this letter faithfully for a while, you know I have been a big proponent of diversifying into precious metals (a lot) over the years. Well, I had the worst day I’ve ever had trading last week.
My job is to come up with trade ideas, and sometimes they are few and far between, but I will tell you my best one right now, and I will do it in one paragraph.