iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
18,593 Blog Posts

STRANGER DANGER: Gold is Defensive Again

I bought ABX today because gold is receiving institutional interest again. Now with China and cryptos destroyed, defensive nut cases have no choice but to barrel in sideways into gold. Over the past month, gold stocks have outperformed SPY by +15%.

I also bought some SQQQ, just in case we retest the lows — which is 200 Nasdaqs lower. There’s a lot of ‘just in cases’ in my moves, much to do with being restless, impatient, and impetuous. I am being petty — because my trading account is designated for trading. If it were a long term account, I’d snooze and watch teevee. But because I’m supposed to trade it — that’s exactly what I’m doing.

At the close, I was 60% cash, 5% SQQQ, and a fist filled with pleasantness.

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One comment

  1. roundwego

    Gold is money. There is no substitute.

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