Slido- I think your "PS" message carried more useable trading advice than everything together that I've read on Kitco and Gold Eagle in the last two years- along with the 4 newsletters that I subscribe to.
If I had to pick out 'one' thing that I've picked up from you- it is the necessity of learning to trade in both directions. The necessity of going short, or at least buying puts and profiting on these HUGE corrections.
Shorts and PUTS are insurance!
Buy and hold isn't insurance- it's stupidity.
And doing it over and over and over- is insanity.
What insurance was there in watching gold stocks correct 30 to 50%?
All the gold bug boards on SI and yahoo go stone cold silent during these corrections. And then after what he said was going to happen- happens, then they show up here and attack Slider for beating them over the head on how to REALLY buy insurance and profit from these shakeouts- instead of continually being shaken out.
Did Slider not plead with people here to not let- buy and hold turn into- 'buy and fold'?
Did he not say to at least 'buy puts' as insurance?
Did he not talk about shorting Natural Gas and using that as a hedge to your gold?
Did he not say to take profits when the HUI rallied back to 470 at the top of the trading range- when gold was $989?
Did he not say to give the bottom of the trading range some room- and 'gap your buys' in 1/3rds down to the 280 support level of last August's correction bottom?
If ANY OF YOU followed ANY of the four above suggestions- you wouldn't have anything to bitch about, because you'd be buying everything cheaper, you would have made money on your insurance- and you would now be in the driver's seat- instead of the passenger seat.
Here's Sliders 'PS'. I'd suggest people read it again. 10% will and 90% won't. And guess what will keep on happening to the 90%?
I remember 'hating' the guts of my drill sergeant during basic. Hating his guts. But looking back- it was one of the great experiences of my life. Taught me more than perhaps any other man in my life. Yes- it's TOUGH LOVE. But life is tough. I was prepared because of that toughness. Today I love that man like my father.
Anyone who wants to hear- it's not your fault. Its those nasty comex manipulators, or central bankers, or short sellers- who are to blame- is probably in the wrong place (vbg).
SOTB is a SOB. And if you come here expecting to be coddled by a soccer mom- who wants to give trophies to both the LOSERS and the winners- or, where no score is kept- so there are no LOSERS- you're in the wrong place.
This is bootcamp- and it's not hard to tell who the drill sergaent is (vbg)!
I think this PS from Sgt. Slider is worth another read:
Ron
PS:
...if it makes you feel any better, I am buying a
basket of junior/explorer golds here with "house
money" from my Nat Gas "insurance/hedge" short
trade.
Many at .25 cents on the dollar from mere months ago.
That's how you buy and fund your insurance
policy... upon the backs of the whipsawed, and now
liquidated permabull masses.
That's not vindictive, that's how you must
trade to survive and prosper in volatile
markets.
Quit bitching about banks manipulating COMEX people!
How many times have I pounded the table on studying
the "scouting reports" on your competition?
...to THINK like a Central Banker - not a pom pom
waving permabull cheerleader.
...to ANTICIPATE these manipulations vs.continually
REACTING to them.
Can you imagine Bill Billichek bitching and moaning
because the opponent sent both safety's on a blitz
and sacked his QB after 7 consecutive pass completions?
After 7 consective pass completions (read gold rally)...
YOU'D better be expecting the BLITZ!(read PPT/ESF, Central
Bank, or COMEX manipulations)!
WAKE UP PEOPLE -- this isn't that damn difficult.
It's 90% mindset.
Their are two sides to the game -- offense AND defense,
and 90%+ of you ONLY play one side of the game...and
wonder why you keep getting whipsawed?
No high is ever high enough to sell into - because gold
is either going to $2,000 or $5,000. And these $200,
and 200 point corrections are to hold (fold) into,
because you're holding "insurance"?!?!?!?!
I've finally come to realize that DNA is DNA.
Darwin rules.
10% will survive and prosper, and 90% will always
continue to be what they are... food in the jungle
of life. |
