I’ve been long gold, on and off, since November of 2018. Last week I sold near the top and felt powerful, like my balls were made from steel, impervious to the market. So I got fancy and took a short position on gold, via JDST.
Today I got my pants lit on fire and, subsequently, my balls.
I sold JDST on this gold spike for an 8% loss. I also added two gold stocks on the long side to my trading account.
The lesson to be learned here, and I’ve already learned this lesson a few dozen times before and will probably learn it again a few dozen times before I go, is to avoid being fancy with trades.
Do you like AAPL?
Good, then don’t ever short it, no matter what. It’ll just conflict you and end up robbing you of your spirit.
Moving on, stocks look soft, but I’m brazenly optimistic for something wonderful to happen soon.If you enjoy the content at iBankCoin, please follow us on Twitter