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One and -- third.
-- just how Long Will -- keep moving higher does this mean you could make equity backed senate right now Campbell and company.
One of V top commodities players in the world has a short position in gold since the company trades.
In more than eighty markets globally should you follow its lead.
Michael harris' camp -- company president joins me now from Baltimore Maryland great to have you here Michael -- and okay you still short even on a day like today where it's up more than forty dollars.
Yeah I mean you have to think about and more medium to longer term trends perspectives we've been short for most of the year.
How we continue to hold onto that position I think if you look at the trend over the last couple of days.
To -- last few weeks -- -- certainly we've seen a move lower in the dollar that's also been pulling interest rates lower and that that has caused a short term spike in the gold market.
But if you look at even with that 12% bounce off the lows from June 28.
We're still down 20% for the year so the medium to long term trend is still -- you know downward moving.
I think that we have to continue to watch the job stayed in particular Bernanke has put our focus there.
And it will be data dependent I mean today's sad news out of the existing home sales market wasn't particularly great -- -- but I think we're gonna be more focused on unemployment next week and as we look for big levels.
Thirteen hundred was a big tactical level we took out this morning.
And we we traded through -- aggressively throughout the day it right now we're sitting right -- another another level that I'm looking out which is the fifty day moving average.
And that comes in at thirteen 35 so were right there for hopefully gotten -- -- and the market may turn lower.
OK so you are short -- but what what your value isn't what cable company's value is for our viewers is that.
You're now going to tell us -- where else your short where -- -- long and not necessarily medals but you also look at currencies.
So give us your best long position right now that you think will continue.
Well on the currency markets were long the dollar vs a basket of currencies so we're short the Australian dollar the New Zealand dollar in the Canadian dollar which we call the commodity currencies.
We're also short a number of other emerging market currencies I think we've seen -- continued downtrend in many commodity in emerging market currencies because the China story.
Mean certainly that second quarter GDP number it seven point 5%.
Did come in as expected but we're seeing -- down training and overall Chinese growth.
And with some of the credit curbs -- have been going in recently.
There's some serious concerns globally that those particular currencies are tied to China we'll continue to -- so.
As Bernanke has got to let the cat out of the -- that we're not sure when the -- gonna happen but at some point it's gonna kick again.
I think out with less money -- earning it you're you're safer money back is to be long dollar and short a number of global currency.
Okay just -- -- -- viewers you know when you call Canada and Australia commodities that currencies it's because so much of their economies are based on.
Things like oil -- and mining etc.
so let's get to oil right now are you longer short.
Well that we continue to be long both WTI and Brent oil which is uninteresting story in itself.
-- so those of your viewers that have been watching that Brent premium Robert WTI for the last couple of years.
Which has been unheard of in history.
We saw them trade to parity on Friday as there's been much more demanding WTI.
Relative to Brent mean certainly there's been a Middle East premium that's been priced and over the last couple weeks with first Syria.
And then -- but I think more than anything.
You have to look at the term structure there's extreme back predation and WTI.
You've got producer selling in the back months and you've got speculators like Campbell and company coming in in the front month says there's been some serious momentum to the outside watching some of that speculative data out there we're seeing all time highs for long positions in WTI -- what you -- -- is coming in and Cushing.
What went when will you then get out of that long position if you feel that further out there will be lower prices -- backward nation.
That's a fancy word for saying exactly that well as as we'll continue -- to stay in the front month which is the most liquid and ride it the trend until it comes to an -- our car our models are largely based on momentum and so we see that market turnover.
Our models will get us out and then at some point if it starts ago to the downside we can get short which will also help to diversify our clients' portfolios.
Hey mark it's so good to have you -- and and we're gonna put all of your positions on our FaceBook dot com slash -- claimant page so if in case we went too quickly for some people.
But it's an interesting balance that you have here and we appreciate you articulating it to us banks.
Thanks -- we're always giving you the power to prosper here Fox Business Michael Harold Campbell Harris Campbell and company president we've got the.
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