Hello Pezz, Very Early Morning or Very Late Night Report:
I woke up, concerned that I do not have enough gold, so –
(a) Bought another dollop of Newmont Mining at USD 39.40ish
(b) Shorted equal dollop of NEM March 2004 Put strike 35 @ USD 1.90ish
(c) Shorted equal dollop of NEM March 2004 covered Call strike 40 @ USD 3.80
NEM may tank on its own or may tank with the general market, but then will most likely go up. I just wanted more NEM now. Besides, the fiat paper I exchanged for NEM will only be worth less, for sure, and will not likely rise again, for a long time. This is precisely what I like about a bull market, this time in gold shares, because the market eventually, but relatively quickly, corrects my mistakes, and erases bad memories.
Chugs, Jay |
