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Gold/Mining/Energy : Gold & Gold Stock Analysis
GLD 425.94+1.0%Jan 14 4:00 PM EST
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To: GST who wrote (23191)12/15/2010 3:17:23 PM
From: Tommaso1 Recommendation  Read Replies (2) of 29622
 
I have been following TBT since October 2008, began establishing a position in August and September this year, and more than tripled that position on 15 November.

So far as I can tell, it is not as subject to "leakage" as some leveraged ETFs have been. If this is correct, then the only sensible way to proceed is to hold it as a long term hedge against rising interest rates and a bearish speculation on long treasuries.

It may be fun to try to scalp a few dollars here and there, whether on TBT or on gold. But even with the ultracheap commissions, there's more entertainment than profit, especially when taxes are considered. On the other hand, people who "invest" very short term probably are not in very high tax brackets. Penny ante poker is perhaps a better option.

Maybe the difference between long term investing and some others is the difference between whaling and fishing for minnows with a bent pin.
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