Hello Pezz, Today’s Report:
Sometimes we must hold our noses and buy, sometimes we must cut off our arm and sell, and at other times, we must sit tight and suffer, or else we must run away like a girl. And, every so often, we must reverse a trade we just did not so long ago for all the right reasons.
Sometime, we must do all of the above in one series of trades.
I just sold down my paper/physical gold to 9.3% from 11.4% of gross asset, converted the proceeds plus additional funds from HKD (paper gold is denominated in HKD) to AUD, thus raising AUD cash from 1.3% tom 4.3%.
I intend to buy back every tael of my recently abandoned paper gold and more, hopefully all before Christmas, and borrow against same to buy more paper gold, when gold drops below USD (pick a number), say 350/oz, or maybe 340 if luck willing.
So far, it seems, I must do the opposite of what my mind tells me as it relates to gold;0/
Chugs, Jay |
