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
23,433 Blog Posts

Preparing for The Summer Doldrums

Raising cash, booking profits — doing what needs to be done ahead of a hot hot summer.

It’s all fun and games until the President of the United States tweets something outrageous and it sends markets in a tailspin. I’m not bearish, just cautious after a nice healthy run. I booked a loss and two profits today and raised some cash. I also bought another miner today, which I consider to be equal to money.

Rates are lower, the dollar is getting hit — gold is surging. What more do you need — an engraved invitation?

Look, I cannot do it all for you. At some point, you’ll need to start making your own decisions. Buy some fucking gold miners, raise some cash, maybe even throw on a hedge here. It’s not the worst idea in the world. We live in a terrible terrible era of chicanery. Do not think for a second that this detente can last forever. Eventually it all swims down the sewer pipe and into the alligator pits and everyone gets swallowed whole.

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15 comments

  1. ferd

    Interesting that, this time, as our neocons fuck up the world, treasuries are not getting a lot of love.

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    • ericbakerbruce

      The world’s been fucked up a long long time. It’s not something that just happened.

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    • tha pirate

      ferd: “…our neocons fuck up the world…” – translation: they don’t want to send any more pallets of cash any longer to my beloved Mullah friends in Tehran to finance more terror & a nuclear program, done under a fake ‘deal’ that did an end run around the requirement for Treaty ratification.

      Not ‘neocons’, but patriots who aren’t in love with the terrorist SCUM Mullah fanatics running Iran.

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  2. The_Swede

    This market is grotesque.

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  3. ferd

    Yo Numbers, last Oct, vix and gold broke higher together …but not this time. Vol still just looking at the Fed and other manipulators I guess. You still long vol?

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  4. trumpmeister

    The commodity bull market is back online after 7-8 years of consolidation. The moves are just getting started. I compare current price actions to that bet 2000-2002 when commodity miners are at rock bottom while tech stocks are being traded at 30-40x annual sales. There will be a rebalancing in term of asset allocation. Get your butts back in the miners if you want to make real money.

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