Loading ...I see three ways out of this PM mess.
1.) Buy the Phiz, and hold until some day it is valued at a reasonable price.
2.) Enter the paper markets and see if on any given day you can beat the banksters.
3.) Say the hell with everything PM, and go an entirely different direction.
My thoughts are thus: Invest at least 20% of your net worth in the phiz. It has proven itself for 5,000 plus years against all governments and financial systems that promoted a better way (fiat) system. And then, in my case, take 80% and use it to try and enhance your personal fortune.
I am no genius, but if one has watched these markets for at least 10 years I believe you can play with/against the big boys. Example, 8 out of ten times the banksters are going to bash the PM’s at Option Expiry. Now I can cuss it, I can get upset, OR, I can try to make few bucks off the deal. I sure as hell cant change it. Pretty simple.
So far this year, I have been very lucky. Except for one month, I have ended up higher in the trading account. Do I know any secrets? No way. But the banksters, to a fault, have become so predictable. Example, Gold up for three days in a row, you know they are going to beat us down on the fourth, no later than the fifth.
Kenny Rogers said/sang it best. You got to know when to hold em, know when to fold em. And if I cannot get that concept right at least 70% of the time, I probably should find another way to spend my time, and money.
The other issue I have is I am probably a long time ‘gunslinger’ at heart. I don’t care about any PM stock in particular. Like CDE today, down 12% at one point. First thing I thought of was the idiots had announced some kinda of reverse split. They did it a few dozen times in the early 2000-2005 years. I have learned, the hard way, not to marry any stock. Odds are, ‘they’ are watching over the owners interests more than their investors. ( Ron McEwen may be the exception from my own observations)
Anyways, each day I take my best shot, and doing what is important to me. Growing net worth, both in the paper and physical realms. If I come up with a different solution to this crazy arse world we live in, I will post it here.
Ps) Got back a third of my losses today. Somedays, that is as good as it gets. Lets see what tomorrow brings. I shorted some more shares on the DOW today, and gettingready to go long with JNUG. August scares me, but that is how I read the tea leaves at this moment. Come Sept, I think the goldbugs are off and running.
Just keep the coffee coming, and the trains running. The rest will take care of itself. 🙂