just in and out
From: J
Sent: Thursday, March 8, 2012 10:10 AM
Subject: Re: Germany to Review Bundesbank Gold Reserves in Frankfurt, Paris, London and New York Fed | ZeroHedge
m. bullish talk re gold is not welcomed at this moment ;0)
i need to buy back, but am fearful. i had unloaded hk-domiciled paper gold, silver, platinum
thank goodness i still have my physical else i would be bull-less, and am at deployment below
35% cash (a dramatic change from just a few days ago when i had minus 6% cash ;0) whew! too scary. - for awhile i was at what bill would term "all-in"
35% metals (65% GOLD, 32% platinum, 3% silver; respective paper:physical 35/65, 11:89, 100:0 - all remaining paper metal positions are usa etfs and have covered-calls issued against the positions as at march 5 at money strike expiring april)
30% equity (24% mining (i.e. gdx, gdxj, fnv, paas, slw, remx, clf, whatever - all have covered calls issued as at march 5th at money strikes expiration april), 19% energy, 14% other (i.e. nly, mcd, cpf, arcc, whatever), 43% p.e. (aussie hotsie totsie pre-ipo, other stuff, etc at cost)
nav +8.40% ytd, enough for now, 60+ days of diligence.
next up, must of course either let covered calls expire (more likely) and re-start program shorting puts
i trade about once every three months, but make dramatic moves per above about once every 3-4 years
i resist what i term 'pathological trading'
but am now genuinely afraid, of takes i value
- usd funding crisis outside of usa (g's take i read. ostensibly easing. am cognizant that war on iran may be bullish given fed easing that would be accompanying same)
- pension managers must 'invest' somewhere (b's take - bullish, if i am not mistaken)
- stocks and gold would both go up (f's take, bullish)
- hk real estate is high (your's take, bearish but one i am unwilling to hedge or otherwise act on, at least not yet)
and i did not enjoy the melt-down in q4 2011 when i was already high and 'forced to / willingly' leveraged up by circumstances in order to at least hope to benefit from a drawdown of capital. [edit: the wager turned out okay]
incl. rentals, i am at
22% cash
0% bonds (do have 'credit' play nly in large-ish position categorized under equity)
22% metals
19% equity
36% real estate (at cost)
nav +5.93% ytd
is about as neutral as i can managed.
next stop:
(i) either go long or short (and if so, what? by what means (puts/straight plus covered calls)
(ii) do nothing and wait
(iii) wish to re-engage with paper au, ag, pt, pd
cheers, j
From: M
Sent: Thursday, March 8, 2012 9:44 AM
Subject: Re: Germany to Review Bundesbank Gold Reserves in Frankfurt, Paris, London and New York Fed | ZeroHedge
They are piling on B .....
Switzerland Wants Its Gold Back From The New York Fed
zerohedge.com
M
On Wed, Mar 7, 2012 at 10:24 PM, B wrote:
http://www. zerohedge.com/news/germany-review-bundesbank-gold-reserves-frankfurt-paris-london-and-new-york-fed
Could get interesting. |
