Does it matter if we’re in a bear market or not? It’s just a label. But prices are sucking lower and bulltards are getting wiped the fuck out clean — removing them physically from their money. I’ll have you know, I am getting LIT THE FUCK UP in my long term account today, but somewhat hedged in my short term with gains in gold, FAZ, and DRIP.
I stepped in and bought some EGO today, thinking the recent bull market in gold lifts junior miners like EGO. There is a potential large upside in a piece of shit like EGO. I do not pretend to know the first thing about gold mining — but I know sentiment and numbers and people are scared AF, in search for havens.
My longs in my trading account will remain until my 10% stops are met. The point of having both longs and shorts is to profit from the spread, which I am doing so today. I was not 100% short because I was cautious. Today I am emboldened by the action to get even MOAR bearish — but, truthfully, it’s times like this that produce sellers exhaustion or some sort of tweet that buoy stocks.
My bias is inexorably for lower prices. However, I am not positioned to make a grande sum on the downside just yet. I am uneasy to short too much into the hole.
Here’s that Gundlach clip.If you enjoy the content at iBankCoin, please follow us on Twitter