Hello Pezz, Today's Report:
I had a longish morning meeting, then I messengered with a cyberpal on the details of a possible new business construct, and then I got alerted by GOD to latest evolution of the financial-scape.
I then got busy, first on the phone to broker, then by the keyboard to I-net accessible bank, and finally trudging down to the 3D banking hall in central, all to rescue my ill-gotten moolah and hard earned bread.
I commanded a godly portion of my troops (most of my paper gold, all of my YEN, much of my CAD, some of my AUD) to de-camp, however they can, and redeploy in USD/HKD space, standby and await orders.
I should have listened to Marc Faber and GOD earlier, and saved myself 2% on NAV. Now, my gains in 2004 YTD are ugly much gone, whispering in the wind, saying, 'Jay, why didn't you save me'.
I am hoping that while I did not panic as early as I could have, I did just panic ahead of everybody else, and that everybody else will be panic stricken, soon.
The good news is that 2003 gains are now more secure, to the extent that zero-interest earning USD/HKD cash can be considered secure;0/
In the mean nasty time, I must re-learn how to make money the honest way, as in not via currencies grinding against currencies, but in buying low and selling high, and more difficult, selling high and buy back low. Oh, yes, and there is always honest work. Almost forgot about that :0)
I am at my club now, having not a chance to return to my PC at the office, after a fast walk up the hill, waiting for Ramsey Su to show up and share a cranberry juice, and so I do not know my precise allocation disposition, knowing only that it will look much different from yesterday.
I cannot give a good explanation of why the USD is rising, except to attribute the rise to the dead cat that bounced, knowing that the bounce may cause much more misery to many for a while longer. Think of a boat with all the passengers on one side, now all shifting to the other side, all screaming.
I will be cheering on the USD tonight, your morning, and speaking ill of gold, but I will be looking for a forget-eveything-and-buy point, for gold and non-USDs.
The battle is now joined. God bless, and may we see each other on the other side of the storm.
Chugs, Jay
P.S. may DUGD for a few weeks more, so that the reward will be plentiful :0) |
