I was ready to consign this trade for the generational dustbin and let my useless holdings sit in a bank safe doing nothing but NO, world events conspire to make things more friendly for media scary headlines. I am NOT a fan of what might follow, for if the yellow dog becomes a “thing” again, we have problems spilling over into sentiment and valuation. This is one of those end of the world narrative plays and those of you with out-of-country bunkers and a few decades worth of tinned goods and ammo must be chortling knowingly. At least Hedgie John Paulson gets a last laugh if his last possessions don’t get repo’d first, I believe he’s still long and strong in gold. Einhorn too right? Ugh, I want Martian rocket-ship tours, talking robocars who you can go on roadtrips with and bioengineered celebutantes live-streaming 24/7 not end of the world Mad Max-ism. I want ebullience and systemic waste from malinvestment which spills over into real innovation and higher standards of living, not Malthus and meatless Mondays morphing into meatless March (and April, May and so-on).
Like I said, NOT a fan but we’ll see. The moving average monkey lines remain headed from upper left to lower right with recent prices bumping up against the 50 week.
Corollary will be the KING DOLLAR narrative. So much for cheap tours in Europe and elsewhere. More on that later, right now, not loving this but price is price.
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JNUG was a monster today. Hard to pull the trigger on that trash. Perplexed.
Definitely some heavy action today and being rational makes it difficult.
As noted in my “Gold, Get Some” post, I bought some gold miners via FSAGX in December 15′. Mission accomplished on diversification, it is up 14.1% but 1/3 of that yesterdays surge.
Yes “Fire”, I recall that post, as always, nicely done 🙂
Geez man @EdwardRooster you’re VERY late to this trade. You think the run will keep charging forward… @ the same speed? There’s certainly going to be at least a semi-retest lower. Maybe Fed 10th/11th with Yellen.
LT though it def is a good one.
I know what you mean probucks and I’m not in it. I didn’t say it will or won’t but price certainly looks like it’s trying. For me to be in this meaningfully, this staircase has got to begin climbing upwards, and that takes the one thing most are not willing to risk, opting to potentially destroy both real and emotional capital instead of: time. As for the traders’ inner debate about “lateness” (a/k/a FOMO) we have all been witness to things going a lot further up for a long time or down a lot longer than we could expect. I’ve been yelled at for being a bull or bear and then the trend would resume regardless of me just doing what I always do: follow price.