Hello Pezz, Yesterday Morning and Last Night's Report:
Sold, sold some more, and eventually sold every bit of paper gold, gold mining etf, materials etf, and Canadian gold mining basket at I would guess aggregate losses of 5+-% net net. The Bernanke Pause gambit did not work out, and buying for the long term at the entry prices is not desired. This may be a cheap lesson compared to what is coming to the market soon. I admit it, I phucked up.
Why? I am not sure. Call it instinct for survival. Sure feels good :0)
I do not want to learn what Maurice learnt with QCOM ;0)
Also, I want to be in a position of fearlessness during what many expect to be a ferocious correction of all paper, and it is difficult to be fearless if one is already loaded with fear.
OTOH, if so many are expecting trouble, why should trouble show up?
In any case, the grind between monetary inflation and price deflation, and between official chants for strong dollar and actual continued weakness in bonds, got me wishing for respite.
I simply couldn't help it once I got going, and I probably marked the interim low ;0/ But I can now sleep better.
I am just sitting on cool physical metals, hot energy, tepid financial/housing dark-side bets, and of course warm cash.
I will wait until a sign from heaven and inspiration from the markets. In the mean time, I am beginning to think as my elders do, start looking for apartments, so as to buy safely leveraged yield during the coming down turn, by and by, naturally.
Chugs, J |
