Wow, I don’t know what’s more priceless; the fact that half of my silver hasn’t even arrived at my house yet, or its value.
Oh wait, no, I’m pretty sure now it’s that second one.
Have you fucking seen RMCF? Well, have you? And to think I loaded up on that shit last week, via marginal magic. I would certainly contemplate taking some off the table here, if I didn’t regard it as a long term holding. Maybe I will anyway, just to reduce my margin position a little.
All in all, it’s a pretty good Monday, I must say, with my call of BHI also performing favorably. As you all know well, oil began a coked out marathon this morning back through $70. Guess what? It will probably continue this run to just under $75, along with the rest of the market.
And then what, you ask?
And then it will go ape shit in a spiral down three points as doomsayers jump around and proclaim the end of the world…again.
So what can you do to profit from this nonsense? Pick low trending stocks with high volatility, of course, selling them short around their highs and buying them up around their lows. Or just shorting them would work; or just going long and selling at the top, for that matter. That’s my strategy thus far, and it has worked well, despite one or two horrendous mistakes on my part.
If you’re looking for an entry point, I’d hold off and short the next leg higher, while taking profits around crude futures of $74 ½ or just below your stocks recent average high.
Just remember to keep your risk managed and an eye vigilantly on the news for broadcasts of imminent death, like the potential ones that came out last week. Depending on your stance, good news can prove just as terrible, don’t forget.
Most important, however, is to remember to find and acquire large stable businesses at these (still relatively) cheap prices, preferably ones with nice, ample sized dividends, before the recovery which, regardless of your perspective, will almost assuredly have occurred by the end of next year.
Believe me; I’d love to see this market explode in a fit of pitiable carnage; that’s where I double my fortune. But if for some, unimaginable reason you’re sitting on cash, waiting for the leg lower, it might be time to take half of that and settle for some nice 5% yield stocks that can help take the edge off, should you prove myopic.
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I sold a little more than a quarter of my RMCF holdings, for glorified gains. The rest is sitting for the long haul.
I made away with $8.3305 per share average.