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
19,842 Blog Posts

Futures are Soft; Gold Has Been Routed

Do not expect a bounce in gold today. I told you, I am the pre-eminent authority on all things to do with gold and silver and I am here to tell you — it’s not done going lower. Look, I’m not like those other fucked for faces who glibly take to the internet to shit on gold. I like gold, but not here. I was the first one in and the first one out — literally calling the top in the shiny metal.

But now is not the time to be emotional about the investment. Take your time in the weeds and get to know the ground you’re walking on. It’s somewhat different than it was a few weeks ago and I believe you’re about to see a significant shift in risk metrics.

Let’s see how this fucker opens up and then I’ll have more opinions for your leather-faced morons.

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3 comments

  1. ferd

    This is why you need Numbers …to keep you honest. He should be pointing out that you were a day late in getting out of PMs and that you bitched about getting hammered in those positions. Instead he is leaving the well-mannered me to do his job.

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    • numbersgame

      But I will point out that Fly is still long gold in his lon-term Quant fund…

      Then again, I’m losing money on USTs in my long-term account (but still cash heavy). I’m looking forward to gradually building that position back up.

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  2. spaceman

    I went full hedge and I feel very reassured to hear it’s going lower so please please let me know when to go long? Thank You

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