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Druckenmiller: "Gotta love gold" after Fed non-action

  • "You've gotta love hold here," Stan Druckenmiller tells the team on Squawk Box. The Fed lost its chance for a "freebie" when it decided not to taper yesterday, as the markets had already braced themselves and priced it in. On his last appearance, Druckenmiller had said we we're headed into the 7th inning of a 4-year bull market, but now he thinks it's going into extra innings.
  • It'll end like 1999/2000 he insists, but for now things look good for risk assets.
  • "You just stop all the talking and do your job," he adds, getting in a deserved dig at recent Fed policy of telling everybody a lot more than they need to hear.
  • Precious metals are little-changed in morning action following their post-Fed moonshots yesterday.
  • PM ETFs: GLD, IAU, SGOL, PHYS, AGOL, DGL, UBG, DGP, UGL, DZZ, GLL, DGZ, UGLD, DGLD, GLDISLV, SIVR, AGQ, DBS, USV, ZSL, USLV, DSLV, SLVO.
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Comments (3)
  • Chris DeMuth Jr.
    , contributor
    Comments (4371) | Send Message
     
    One tactic that might prove to be profitable is to short the leveraged inverse gold miners (ticker: DUST).
    19 Sep 2013, 08:18 AM Reply Like
  • coloneldebugger
    , contributor
    Comments (905) | Send Message
     
    Isn't it amazing how every significant bit of speculation is "already priced in to the market"?
    19 Sep 2013, 08:22 AM Reply Like
  • solarcircle
    , contributor
    Comments (293) | Send Message
     
    I doubt the fed would have gotten a "freebie" Rising interest on bonds is already a huge problem.
    19 Sep 2013, 03:35 PM Reply Like
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