Mission Impossible
Whatever tomorrow brings, I'll be there.
“With a plane load of metals risk, I feel like Tom Cruise at the end of Dead Reckoning Part One. I can’t wait to see how this movie ends.”
Gold’s had a hell of a run, nine straight winning weeks, but this one’s breaking the streak.
The metal’s hanging on to that $4K handle by a thread, and traders who thought “overbought” didn’t matter just got a reminder: it always does.
Meanwhile, the sell-side desks are tripping over themselves to pump new price targets.
Yesterday, JP Morgan said gold could hit $8,000 by 2028 as a “hedge against equity risk.”
Cute idea, except the S&P is in a raging bull market, blasting through 6,800 while gold’s up 55% on the year, and gold stocks are up 100%.
What “hedge” are they talking about?
The U.S. just crossed $38 trillion in debt.
Spending $23 billion a day.
Half a trillion dollars burned in October alone.
And everyone’s arguing about a new White House ballroom.
Distractions everywhere while the real story plays out in the price tape.
That’s how you know the market’s changing. When the leaders stop rewarding good news, something underneath the surface is shifting.
The leaderboard flipped this week.
Risk is rotating fast, and traders are scrambling to keep up.
The crowd’s back to celebrating fresh CPI print, soft data, and a rate cut coming next Wednesday.
View Matrix
Two trades are sitting on the edge, ready to move.
Every move matters now.
The dice are in midair…
And when they hit the table, the whole board’s going to shake.
That Dead Reckoning reference is spot on because Cruise's character spends that entire climax trying to maintain control of something that's alredy spinning out. The metaphor works better than you might have intended since both gold and Mission Imposible deal with escalating stakes where every move compounds the risk. What strikes me is how you're calling out the JP Morgan $8k target while simultaneously holding metals risk yourself. That takes genuine conviction becuse it's way easier to either be all in on the momentum or completely skeptical. The fact that gold and equities are both ripping undermines the hedg narrative completely. If everything's going up together, nothing's actually being hedged. You're just riding multiple bubbles at once and hoping you catch the exits right.