I had a Sargent Schulz moment this morning and, as a result, ended up selling “nossing.”
As you may recall, we opened kind of weak in the miners, and I decided to hold off til my usual 10-11 am period to dispose of some stocks. But we began rallying shortly after the open and it looked like gold was trying to hang in there. Generally, I would not recommend this line of indecision and I would enjoin you, rather, to “follow your plan” at all times.
Sometime, however, my “gut” tells me that I should stay my hand. Often times allowing for a little patience, and “not trading” instead of pro-actively trading, I’ve saved myself considerable heartache and regret.
That doesn’t mean I won’t be selling tomorrow, however, even as the dollar drop today tells me it will be difficult for gold and silver to break down any time soon. What I may be doing instead is selling a portion of some of my fatter gold plays (and maybe some silver if we discontinue our current rebound) and investing in some “fast actin’ Tinactin” recovery stocks, like EEM, QLD, TNA and perhaps even some ERX (sorry Cain!).
I would be loathe to abandon the recovering baser metal plays as well in this snap-back, so I will be inspecting TC, TCK, TIE and even some AVL tomorrow. Last, take a look at two good beat-downs for some fast flash action — CREE and PBR . These are two of my old favourites which have fallen considerably OUT of favor. They may be worth a spin of the wheel.
Best to you all.
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