<buy all the gold and silver you can stomach.>
I did that last spring, and in 2002, and 2001. As I've been writing, I think gold and gold stocks are in a different, funny spot right now: too much bullish sentiment, too many specs long, a little too popular, and some games and curve balls coming. It's a timing thing for me, although I sure still buy the fundamental case. Actually the sector to get aggressive on right here and now is energy (black gold), not yellow gold.
Meanwhile a mid-day note on day four (of five) of the market plunge. Big repo action up to net 29b, so they (Fed, PPT) are pulling out some stops.
bullandbearwise.com
Egregiously irresponsible, what can we say or do? Unfortunately, if you're a bear like me, you have to respect the fact that this tends to stave things off for awhile. Secondly, big surge in put buying this morning, and that's not good.
cboe.com
I'm committed to my shorts (as I see a decent chance for a sigma ten here), so I'll just take a little 5% trading portion off the table. For those looking to get short, take notice of the problem right now. |
