Hello Pezz, Report – NYSE Front:
I just got confirmation on my last night’s activities centered on the ATM that is Newmont, which I take advantage of as my personal social security entitlement ... you know, 'free' money :0)
I shorted a couple of dollops of NEM Put June strike 42.5 for USD 1.90/shr.
I still believe NEM and gold will correct in a somewhat serious way, at some point, testing the believers’ faith, but I figure, as I am a faithful, and the currency in which NEM is denominated is going to monetary regime purgatory, the risk is manageable.
I must note that my shorted NEM Puts strike 42.5 for the months January, February, and June is adding up to a serious number. I just tapped out the calculation on the HP12C, and I say ‘yikes, ouch, holy golden cow!’.
Overindulgence, it is so addicting, but in a bull market, so pleasant :0)
Chugs, Jay |
