Gold and T bonds croaked and Dow skying. Get ready to be on the right side of this... or wrong side, if that is your preference. Not a market for light weights. Misperceptions game in full swing. Love it!
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The problem is that us goldfolk have been puking for a long time no matter how much "risk management" has been utilized. Meanwhile, those who have climbed aboard the PIG have been having a party in spite of all the "rational reasons" for them not to be having a blast.
ReplyDeleteIt's only a problem if you make it one PK. It is what it is. I think it helps to see things in intermediate cycles as opposed to what 'should' be happening on any given day, week or month. When HUI lost certain upside levels, it loaded lower levels. When gold & silver reversed a couple weeks ago and the breakout failed, they loaded lower levels. It's just the way it is and risk should have been managed to the individual's comfort level... and gold bug perma bulls should have been tuned out.
ReplyDeleteWatch out Gary, you are next. The goldbugs are attacking bob hoye on howestreet, just read the comments:
ReplyDeletehttp://talkdigitalnetwork.com/2012/03/happy-birthday-bull-market/
As frustrated as I am, I have reached the point of no return. I have placed my gold related bets and if I lose, I lose. Going to sting big time if I am wrong but really just don't care anymore. No need to say that I shouldn't be in the market, I already kind of wish I wasn't. But it is too late. I am all in. I have 50% of my portfolio in Royal Gold, 25% in other producers and 25% in risky .V gambling stocks.
Good luck all.
Gold bugs wanting to lynch Hoye is a good sign.
ReplyDeletePeople who read my newsletter know that gold's short term target is lower (even than the current 1660 that is printing as I type). They also know that my exposure to gold stocks has been cut way down for weeks now, since HUI failed a certain point (I don't give away that info, sorry).
They also know that I am bullish on a bigger picture.
If I am next it is only because I tend to taunt gold bugs and use them as contrary indicators, like now for example. Once they were too bullish and caution was warranted, now they are being unwound and that is good.
This is part of a plan. Instead of attacking Hoye, they should be attacking the perma bull geniuses that have led them to destruction with inflammatory statements and and an attitude like they actually know what is going on inside the Fed, the Treasury, the ECB and the gold market itself.
If you are all in, you are doing exactly the thing that makes you like most gold bugs, you are now set up to be a weak holder. Unfortunately, this is the running of the Gold Bugs, 2012 style and it will last as long as it takes to purify the sector once again.
Okay, got a nice detailed email update to write.