via 321Gold.com - Peter Hogarty

I needed some advisory on the position in the sky of the S&P. I found that this particular article was exactly my thinking save that the markets are in a liquidity trap, where the buyers are actually fewer in number than supposed.

That might mean that a sell-off of the kind not seen before may be a possibility, although there are few signs of any such thing. I have to say I agree with this point of view, though and the only thing that might give some weight to my point of view instead is that the equity rally may be as a result of the consistent drubbing in volatility ETFs meant to fund the rally. Not necessarily central banks.

But that means you have to find the bottom in your leveraged volatility ETF, which has been difficult to do, and would probably be looking at a loss.

http://www.321gold.com/editorials/hegarty/hegarty102516.html

-F6