With the euphoria around Gold and Gold Miners and the market nearing a top, I think Gold is going to underperform over the short term. Either way, taking 20%+ profits and moving to the sidelines is a wise move.
Great trade. Looks like you're on fire! I agree, the market is nearing a top. The real question is, how to play it. I think inverse ETF is better than options, since you don't need to get the exact top to benefit from it. I wrongly entered some put options which I regret(only the last entries are near breaking even), but most of my positions are in SRS and BGZ, so if we're near a top, I can wait for it to play out. Keep it up, I am sure more and more people will visit. Thanks again for the posts.
Hey ST Hope so, all assets are correlated so if the market is going into correction, gold will selloff as well, the dollar will go higher. Decided to move to the sidelines for now tho I like it as a longer term play on fiat destruction
I think we're starting to see divergences develop on the RSI and wedges are usually reliable ending patterns. But I am also prepared with a allocation schedule should the market move to the upside and I did the wise thing going longer term on my option position
Good Luck with that position, we will know soon enough this week and the decline if it is beginning will be swift and not give bulls an opport to get out
Great trade. Looks like you're on fire!
ReplyDeleteI agree, the market is nearing a top. The real question is, how to play it.
I think inverse ETF is better than options, since you don't need to get the exact top to benefit from it.
I wrongly entered some put options which I regret(only the last entries are near breaking even), but most of my positions are in SRS and BGZ, so if we're near a top, I can wait for it to play out.
Keep it up, I am sure more and more people will visit.
Thanks again for the posts.
Hey ST
ReplyDeleteHope so, all assets are correlated so if the market is going into correction, gold will selloff as well, the dollar will go higher. Decided to move to the sidelines for now tho I like it as a longer term play on fiat destruction
I think we're starting to see divergences develop on the RSI and wedges are usually reliable ending patterns. But I am also prepared with a allocation schedule should the market move to the upside and I did the wise thing going longer term on my option position
Good Luck with that position, we will know soon enough this week and the decline if it is beginning will be swift and not give bulls an opport to get out