10:42 am (Hawaii) Time to shower and hit the road. Job is a job. But watching the market off and on the past several hours, it's clearly in a state of flux. Not much conviction by the bulls. Bears are skittish somewhat. Obviously, my slight bear bias last week is turning correct. Too bad I sold FAZ at 45+. I got back in today at 50.73. Not expecting instant profit. Don't really want to hold overnight or for a duration, but if Helicopter Ben isn't going to uplift the paper currency in any way for the time being, it's a calculated risk against the financials for me. It's a sizable position.
I got out of my teeny position in OWW. Nothing going in its favor, not the economy, not the market, just awful, so I cut my loss and exited at 2.35. Out roughly $310 on that lame trade. I suppose in the back of my mind I expected a little more bullishness this week, re: Helicopter talk. Not to be. Not yet anyway.
Still holding a small bit of DGP, which dropped 0.8% today. Other than that, still nearly 50% cash.
Spot Gold and Silver somewhat neutral today. Feels like the calm before the storm. I did order some physical silver today, first order in weeks. I won't be surprised if and when Spot price goes lower, but the physical is not tied to near-term fluctuations for me. Just more for safekeeping in the long run. The price was very good: 95¢ over spot for 1-oz bars (slightly circulated).
No comments:
Post a Comment