I sold all of my gold positions on July the 11th 2016, right dead smack near the fucking highs for the year. Thank you very much. I’ve waited, with the patience of a sloth in a tree, for the price to correlate with the time needed to make money in this trade. And it has finally arrived.
The Fed is a lying sack of shit. They aren’t going to hike rates, because $20t in national debt says they can’t. But, they might jawbone from here until October about the specter of its grandiosity, alluding to a rate hike because the economy is swimming along. This, my friends, will be another lie. However, let’s remember the central bankers are serial liars and often lose track of the labyrinth of lies they place themselves in. That being said, they’ve made it inexorably clear that they intend to use ALL TOOLS available to them to produce more wealth in the upper 1% of income earners, globally.
This is one gigantic oligarch party and hardly any of you were formally invited.
But you can play their degeneracy in an indirect way, through the purchase of gold shares.
As the perception of central bank insanity crystallizes for everyone out there, the shares of gold and miners should roar again. With the sector maligned in recent losses, down by more than 15%, coupled with a stretched oscillator in Exodus–suggesting the bottom might be near–I reinitiated positions in the sector, with about 13% of my assets. I will allocate another 12% into the sector after Yellen’s JACKSON’S HOLE speech.
This is a core thesis trade being reapplied here and isn’t subject to daily hand wringing. I will change this bias only after fundamental conditions change. Details of my positions are in Exodus and are provided there in real time.
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Any change to your FCX opinion or position off this?
Still short
+1
Cashed out of the 13strike Aug puts a while back for a +25% gain but have also been watching this one for the huge H&S pattern that looks to have confirmed yesterday/today
Thanks, Boss.
More and more companies are finding ways to get employees to pay for the party. They won’t be invited but they’ll need your donations from alternative sources given growth is a joke.
any further weakness in gold miners is to be bought.
I added a small position in NUGT this morning and will buy more if Grandmother Yellen causes a deeper gold correction for an even juicer entry.
Agree
Close to getting in the gold mine with you but think we need to test 1300 on gold first. I can buy that for a long term hold.
PLG looks ready to make a big move.
I’ve been watching and waiting for weeks. Doesn’t feel like that gap-up is ever going to come!