Precious Suckers

It doesn’t feel good having one’s $FRO deflated like this, long 1.2 million shares into what appears to be a death spiral. Clearly, the market is testing my resolve here, as I do not need to hold the shares any longer, being up in the high 20% range for the year. Me doing so equates to being a “maniac investor” and I wouldn’t have it any other way. With the types of draw downs that I endure on a monthly basis, it should come as no surprise as to why I do not manage a fund and instead have opted for an advisory role. People who toss money into funds do not like beta and I certainly bring a lot of that, along with the alpha.

The point of this post is not to bore you with cheap psychiatry sessions, but to inform you that people who bought gold and silver miners yesterday are complete fools. Listen to me now: the sector is dead. Buy the blood only, avoid the momentum trade.

My price target for IMMR is $20. God knows it will take a miracle for me to hold it that long. Look at RBCN today. Ughh.

I am looking at the REITs and they’re getting the old back of the trunk knife action. On the other hand, regional banks are doing great. They benefit from a steepening yield curve. Short RETIs-long banks? It might work. But I’d rather not sell short REITs, thank you very much.

The top two stocks on my watchlist are HOV and HBAN.

Oh, and MDB related stocks are getting poleaxed: UNXL, PAMT, CLIR etc.