In my March 16 entry I noted that two major "smart money" trades:
short US $ betting on a dollar fall
Short oil betting on lower oil
and that subsequent market moves turned those smart money trades into losers.
I noted the latest "smart money " trade was Gold...here's what we have seen very recently :
Gold is heading for the longest run of weekly losses this year because of the Federal Reserve
While the metal was little changed on Friday, it was set for a third weekly drop. Traders have boosted bets that U.S. policy makers will raise interest rates in the next few months, spurred by comments from Fed officials, minutes of the last policy meeting and quickening inflation.
Gold rallied to a 15-month high earlier this month on expectations that the Fed would keep rates lower for longer amid risks to the global economy, adding to the appeal of owning non-interest-bearing assets. As the likelihood of a rate move increased, the dollar strengthened, cutting demand for gold as an alternative asset.