At risk of alienating the entire viewing audience here at Pot Stock Watch…… I’ve spent at least a full second (possibly two) considering the implications/ramifications of me just “letting it rip” and letting you really have it.
When people find themselves in losing positions, emotions run high – and with nowhere else to turn, it’s not uncommon for those of us with a “comment button” to bare the brunt of it. Trust me….I received several “nasty rants” today from people who don’t even frequent the blog! – complete strangers!
Well…………I will have none of it.
For those of you who can’t take responsibility for you own decisions, or trade with absolutely ridiculous leverage, or have no actual idea what you are doing (short of taking advice from some “snake oil salesman” and some bogus trade strategy), or for whatever reason think that this is gonna be easy…..please.
There’s nothing for you here. You act smart…..but you trade stupid.
Kong……long risk ( even moreso now ) holding gold and silver til they rip the shares (options) from my hands.
I DO trade stupid (unless i turn out to be correct) but at least I don’t pretend I’m smart. For the record, I think you are very bright and am hoping you are right in being long the metals. All the best.
We have to assume that with the printing of more dollars….things that cost dollars are going to become more expensive – so….in a fundamental sense you can’t “print gold” -and if you want to buy it….and your dollar is now worth less so……you will need more of them….lots more of them.
I understand that it is a difficult concept to “trade” as gold and related stocks continue to get pounded – but…..looking longer term ( if one isnt leveraged..and able to weather it) I find it highly unlikely gold is going anywhere but up.
Thanks for the commment too…don’t be afraid to chime in here…… whenever you feel!
Great post, Kong. Knowing you well, I felt this post coming since NUGT started getting crucified on Tuesday.
Frustrated poker players, fishermen, athletes, children – you name it – by instinct, try to blame others when sh*t goes pear shaped for them. The fact of the matter is that we all set up our own trades, pick gambles within our comfort zones, pull our own triggers, and if we read your other posts – have the discipline to place stops from time to time.
The timing of the metals hasn’t worked out as well as your predictions regarding the Yen, but as far as I’m concerned, the logic is sound. Once Obama and the congress quit dancing around each other at our expense, everyone knows that their eventual plan will be lubricated by the mutual agreement to print more cash. Taxes could go either way, but the money printing will work its way in there somehow. More money, higher commodities prices. Timing is tough, but it sure seems like we’ll get movement before January expiration.
(I personally got out of GLD with a 15% profit but am taking a bubble bath on NUGT, GDX, and tech. Holding long on risk until I’m convinced otherwise.)
A brave soul Ben….and perhaps a bit of a gambler at heart!
Well……the timing is likely never as “good as one would hope” – and then on occasion you hit one out of the park (yen style) so……If you can manage risk…and keep yourself nimble – things work out in the end.
On NUGT……I bought 7 silly contracts on my gambling account…and as of today just doubled down on it considering the massive slide…..my total risk is more or less “beer money” so….I will endure. Sold SLV 32´s for 60 % profit..and still hold XLK and GDX – both deep in the red – but such small postions that – Im not really worried. I trade small around the horn..aggressive….but small…..then step on the throttle in the straight aways. Admitedly – I thought we where outta the woods in gold stocks for sure….but….the big boys still had another hand to play.
Cheers Ben – keep on rockin.
Ah – small bets around the horn. That I’m going to remember.
” Dead Cat Bounce” tomorrow or Monday – unless a band-aid fix presents itself by way of non other then the ” Wizard” ….
With the dollar staggering around for what seems ages (really just range bound 80.90 – 81.20), when do you foresee some real movement?
These commodity shares ain’t going anywhere until it breaks.
And to what level do you see the DXY over the next 90 to 120 days (I know the near term is your primary focus but maybe you’ll take a stab at it)?
The dollar has been a real pain – and for whatever reason, extremely stubborn. I would have expected it to turn days ago but…..here we are. I can’t see if being much longer – seriously…..any day now..